Manchester City have been found guilty of charges relating to serious breaches of the Premier League’s financial rules over a nine-season period.
The club was also found guilty of three of four charges concerning its failure to cooperate with the investigation.
City were charged in February 2023 following a four-year investigation into alleged financial breaches between the 2009-10 and 2017-18 seasons.
The Premier League says the club used sham contracts with commercial partners to disguise more than £830 million in funding.
According to the ruling, City recorded £360 million in sponsorship fees during three Premier League title-winning seasons, but only £43 million of those payments were considered legitimate sponsorship revenue.
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The remainder was found to have come from the club’s owners and been presented as commercial revenue.
Manchester City have denied wrongdoing and confirmed they will appeal the decision, arguing that the ruling contains material errors of law, principle and fact.
Potential sanctions against the club have yet to be announced.
