The Premier League has confirmed Manchester City are found guilty of all charges related to breaches of the competition's financial rules over nine seasons.

The Premier League, on Tuesday, announced that an independent Commission began its investigation into Manchester City in December 2018 and found serious breaches from 2009-10 season to 2017-18.

The breaches include inflating revenues by more than £900m, sham agreements, sham contracts. filing misstated accounts and concealing true state of its finances amongst others.

Following the independent commission's ruling and backed by an appeal board, the Premier League added that sanctions will addressed separately and confidentially with the independent Commission.

However, City have the right to appeal with the deadline set for Friday, October 2.

PREMIER LEAGUE'S STATEMENT CONFIRM MAN CITY BREACHES

The Premier League summarised how Manchester City funded sponsorship contracts through Abu Dhabi United Group Investment & Development Ltd (ADUG), owners of the club and attempted to fustrate its investigation that started almost eight years ago.

"Manchester City arranged ‘sham’ contracts (which misrepresented the true agreement between the parties) with a number of its commercial partners, as well as relying on ‘sham’ agreements with others, to artificially inflate the club’s revenues and reduce its costs," the statement read.

"The club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators. Manchester City was significantly in breach of both the Premier League’s and UEFA’s spending limits.

"During the Premier League’s investigation, Manchester City committed multiple breaches of its duties of co-operation and utmost good faith towards the League (three of the four alleged breaches were upheld).

"The independent Commission found that Manchester City arranged ‘sham’ commercial deals with a number of its sponsors during the period, which were part of a disguised funding scheme, whereby those companies were only required to pay a portion of the relevant sponsorship fees.

"The remainder was funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), which owned the club. As part of the scheme, further ‘sham’ arrangements, funded by ADUG, were entered into to enable the club to record lower operating expenses than it actually incurred, as well as a ‘sham’ circular arrangement with Fordham, an entity that purchased the club’s players’ image rights, that was funded by ADUG.

"The purpose of these schemes was found to have been to artificially inflate the club’s revenues, and reduce its costs, by more than £900 million during the affected period, to appear to comply with financial rules. The consequence of this, as the Commission found, was that the club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators. The Commission concluded that ‘by its conduct the club clearly intended to circumvent the PL Rules‘.

"As a result, Manchester City failed to accurately report its income and expenditure for the purposes of the Premier League’s Profitability and Sustainability Rules and UEFA’s Club Licensing and Financial Fair Play Rules. The Commission found that, had all of the relevant agreements been reported accurately in the club’s accounts, it would have been in breach of both the League’s and UEFA’s spending limits by a very substantial amount.

"In addition, during the course of the four-year investigation conducted by the Premier League, the club committed multiple breaches of its duties of co-operation and utmost good faith towards the League. The Commission concluded that the club had ‘made concerted efforts to stop and frustrate the PL investigation’."

MAN CITY RESPOND WITH STATEMENT CONFIRMING APPEAL

Meanwhile, Manchester City have expressed disappointment with the outcome of the Premier League independent Commission's findings and they have confirmed that they will appeal the charges before the October 2 deadline.

"Manchester City FC is both disappointed and surprised by the opinion of the Premier League Commission, that has been published today," the club statement read.

"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.

"The club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums. The Premier League process remains ongoing, with significant elements uncompleted.

"Manchester City FC 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.

"The club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence. The club is obviously restricted in what it can say further until all future proceedings are complete."

With City opting to appeal, the judgement day for their punishment remains unknown but they will be looking to concentrate on the Premier League after the international break as they currently sit atop the table with five wins from five matches.