Man City guilty of 'sham' contracts and misleading accounts

The Premier League has confirmed that Manchester City has been found guilty of breaching financial rules over a nine-year period, according to an official statement released by the organization. The independent commission found that City engaged in "sham" contracts with commercial partners, filed misstated accounts, concealed their true financial situation, and violated spending limits set by both the Premier League and UEFA.

Additionally, the club participated in a disguised funding scheme where certain companies paid only a portion of sponsorship fees, while the remainder was funded by Abu Dhabi United Group Investment & Development Ltd, the club's ownership. Richard Masters, the Premier League's Chief Executive, stated that the core decision establishes the facts of the case, detailing how Manchester City systematically broke the competition's rules for nearly a decade.

The league emphasized its commitment to upholding the rules and ensuring a fair and competitive environment for all clubs and fans, vowing to move swiftly through the remainder of the disciplinary process.