Manchester City have been found guilty of breaking Premier League financial rules for nine seasons following an investigation into £900million worth of sham agreements.
An independent commission condemned the club for arranging illicit commercial contracts to inflate revenues and lower operating costs between 2009 and 2018, a period during which the team won eight major trophies.
The ruling follows a private hearing that concluded in December 2024. Daily Mail Sport reported that the commission found Manchester City guilty of 114 out of 115 charges brought against them, bringing an official end to years of uncertainty.
Former Manchester United midfielder Roy Keane launched a scathing attack on the club following the verdict, claiming he would throw away any medals won during that era. Speaking to ITV Sport after England defeated Czechia 2-0 in the UEFA Nations League, Keane warned that the squad under manager Enzo Maresca will struggle under the cloud of the ruling.
"They knew it would hurt a lot of people but they've still done it," Keane said. "If I was a player, I'd be 100 per cent sticking those medals in the bin. Of course you would, it's cheating. They won it on the pitch because cheating was going on."
Keane added that operating under owners who were willing to break financial regulations makes it difficult for players and staff to maintain high standards. "I think it's going to be very difficult for the players and the manager, the club, what they stand for, when you've got owners who are happy cheating," Keane said. "It's hard to maintain a level of excellence."
Former striker Ian Wright also criticized the club's ownership, stating that players had been kept in the dark. "They told them nothing bad is going on. If you're a player, something is not right," Wright said. "It's very unprecedented and sad for everybody. The owners and what they've done, terrible."
Speaking prior to the match, Wright called for severe sanctions against the club. "Unprecedented punishment is required here. It's a massive day for the Premier League," Wright said. "Very messy. It's a problem for them to be going to Liverpool in their next fixture. In their real time, Liverpool were the team chasing them down. Look at what Jurgen Klopp went through to break them - it probably broke him."
Financial Manipulation and Sham Contracts
In a lengthy statement, the Premier League detailed how Manchester City arranged sham contracts with commercial partners to misrepresent the true nature of their financial agreements. The commission found that the club relied on fraudulent deals to artificially inflate revenues and hide operating costs.
The investigation revealed that while City agreed high-value sponsorship deals with several companies, those sponsors paid only a portion of the contractual fees. The remaining balance was propped up directly by Abu Dhabi United Group Investment & Development Ltd (ADUG), the parent company that owned the club.
Under Premier League financial regulations, higher recorded revenues allow clubs to spend larger amounts on player transfers and wages. By artificially boosting sponsorship figures and reducing reported operating expenses through ADUG funding, City altered financial records at the Etihad Stadium to the tune of £900million.
The Premier League confirmed that City filed misstated financial accounts and concealed their true financial standing from auditors and football regulators. Had the club reported accurately, it would have been significantly in breach of both Premier League and UEFA spending limits throughout the nine-season period between 2009 and 2018.
The panel also ruled that Manchester City committed multiple breaches of its duties of cooperation and good faith. The club failed to assist the four-year investigation, which was originally triggered by leaked internal emails obtained by a hacker, and made concerted efforts to obstruct the inquiry.
Premier League Chief Executive Responds
Richard Masters, Chief Executive of the Premier League, stated that the commission's findings fully vindicated the decision to bring charges against Manchester City despite a long and challenging process.
"The core decision establishes the facts of what happened at Manchester City during this period," Masters said. "It details how the club systematically broke Premier League Rules for nearly a decade. It also vindicates the Premier League's decision to pursue this case against Manchester City. While the process to date has been both long and difficult, the League has remained determined that the facts be established independently."
Masters highlighted the importance of maintaining fairness across English football. "It is a key responsibility of the Premier League to ensure that the Rules, approved by the clubs themselves, are upheld to protect the integrity of the competition," he said. "It is paramount that the League remains competitive and fair for all clubs and for the fans. We take that role extremely seriously."
Masters added that penalties for the breaches are yet to be determined by the independent panel. "This disciplinary case, and this decision, are the most significant in Premier League history," Masters said. "There are elements of the case that remain to be decided, including, importantly, what sanction must follow for these breaches. Now we have the Commission's decision, we are committed to moving swiftly through the remainder of the process, to provide certainty for the League, our clubs and fans."
Manchester City Deny Charges and Plan Appeal
Manchester City released a statement shortly after the ruling expressing disappointment and surprise at the findings of the Premier League Commission. The club maintained its complete innocence and insisted that irrefutable evidence supports its standing.
"The club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case," City stated. "The club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums."
The club confirmed it will launch an immediate appeal against the verdict, arguing that the decision contains material errors. "The Premier League process remains ongoing, with significant elements uncompleted," the statement continued. "Manchester City will now pursue the appeal avenues open to it, on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe."
City added that it had respected due process for eight years on the expectation of fair regulation, noting that it remains restricted in making further public comments until proceedings conclude. The club has until Friday to formally submit its appeal.
Breakdown of the 130 Breaches
Manchester City were first charged by the Premier League in February 2023 with 115 alleged rule breaches, a figure later revised to 130 separate counts covering the period from 2009 to 2023.
The charges include 54 counts of failing to provide accurate and up-to-date financial information and 14 counts of failing to provide accurate financial reports regarding player and manager compensation between 2009 and 2018. During those eight years, City won four Premier League titles, one FA Cup, and three League Cups.
The case also encompasses five counts of failing to comply with UEFA regulations, including Financial Fair Play, seven counts of breaching Premier League profit and sustainability rules between 2015 and 2018, and 35 counts of failing to cooperate with Premier League investigations between 2018 and 2023.
The formal independent hearing into the charges began last September at London's International Dispute Resolution Centre. The Premier League instructed King's Counsel barristers Adam Lewis and Andrew Hunter to prosecute the case before the independent commission.
