Manchester City found guilty of serious financial breaches by Premier League

Manchester City have been found guilty of serious breaches of the Premier League's financial rules, according to a report in Dawn. An independent commission concluded the club arranged 'sham' contracts with commercial partners, artificially inflating revenues and reducing costs by more than $1.2 billion between 2009 and 2018.

The breaches allowed the club to conceal its true finances and avoid breaking Premier League and UEFA spending limits. The commission also found City guilty on most charges related to failing to co-operate with the league's investigation.

Premier League chief executive Richard Masters stated the decision 'details how the club systematically broke Premier League rules for nearly a decade.' The club has said it will appeal the ruling, which could threaten its place in the league and cast doubt over past titles.