Independent commission finds Manchester City guilty of 114 of 115 Premier League financial charges

The independent panel determined these actions artificially increased revenues and reduced costs by more than £900 million from 2009 through 2018. Specific data from the BBC illustrates the mechanism: commercial income from sponsors totaled £949.94 million across the nine seasons examined, but only £119.25 million represented base fees. The remaining £830.69 million was paid by the club's owners. One example detailed in the BBC's reporting involved May 2013, when the club knew it faced a £9.9 million shortfall to comply with UEFA's financial rules less than a week before the financial year ended. Within days, modified sponsor agreements were generated to plug the gap without sponsors being approached. Another scheme, the Fordham Arrangement, involved City paying artificially inflated prices for its players' image rights. The commission found £24.5 million wrongly recorded as operating income and £49.414 million wrongly excluded from operating expenses, per BBC reporting. The commission also found that Manchester City made concerted efforts to frustrate the Premier League investigation. According to Front Office Sports, important factual witnesses provided false evidence, some of which they knew to be untrue. Manchester City issued a statement denying the accusations, saying the club is "innocent of the accusations made by the Premier League" and possesses "a comprehensive body of irrefutable evidence that proves its innocence," per Front Office Sports. The club stated the commission's opinion "contains clear material errors of law, principle and fact, and is unsafe" and will "pursue appeal avenues open to it." City has until Friday, October 4, to submit its appeal to a three-person appeal board. Under new Premier League rules introduced this season, the appeal hearing must be concluded within 12 weeks of the deadline, with the panel given a further 30 days to deliver judgment, meaning a decision should be reached by the end of January next year, according to the Guardian. Premier League CEO Richard Masters called the case and decision the most significant in Premier League history, per Front Office Sports. The commission has authority to impose a range of sanctions including points deductions, transfer embargoes, and expulsion from the league, according to the Guardian. For comparison, Everton was docked points and Nottingham Forest was docked four points in recent years for financial breaches. The Guardian also reported that Manchester United, Arsenal, Tottenham, and Liverpool reserved their rights to sue City in the event of a guilty verdict two years ago, and Burnley won a £35 million arbitration award earlier this year against Everton over a PSR breach they claimed led to their relegation.