'Disappointed and surprised': Man City release statement in response to Premier League guilty verdicts

Manchester City have responded with a statement expressing their "disappointment and surprise" after the Premier League confirmed that an independent commission had found the club guilty of serious financial breaches. City have beenfound guilty of 114 of the 115 charges brought against them, bringing one of the most extraordinary and consequential sagas in Premier League history to a dramatic new chapter, although the club remain adamant that the verdict is not the end of the road and intend to appeal.

The case centres on alleged financial misconduct between 2009 and 2018, with the commission finding that City used sham commercial arrangements to artificially inflate revenues and reduce costs, while theclub could now face severe sanctionsonce a separate punishment process takes place. The verdict could also have ramifications beyond the Etihad, withseveral Premier League clubshaving reserved the right to pursue compensation over losses they believe they suffered during the period under investigation.

The commission concluded that the arrangements helped disguise the true financial position of the club. The Premier League said the arrangements formed part of a disguised funding scheme worth more than £900m, with the findings alleging that sponsorship income was substantially overstated through funding linked to City's ownership.

Richard Masters, chief executive of the Premier League,said: "The core decision establishes the facts of what happened at Manchester City during this period. It details how the club systematically broke Premier League Rules for nearly a decade.

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"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.

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"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. It is paramount that the League remains competitive and fair for all clubs and for the fans.

We take that role extremely seriously." Manchester City, however, have emphatically rejected the findings and insisted that they remain "innocent of the accusations made by the Premier League", while promising to fight the verdict through every appropriate legal and regulatory avenue. They wrote: "Manchester City FC is both disappointed and surprised by the opinion of the Premier League Commission, that has been published today.

"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."