Manchester City are confronting the prospect of severe sporting sanctions, including potential expulsion or relegation from the top flight, after being found guilty of major breaches of Premier League financial rules.
The independent commission concluded that the club arranged sham contracts to disguise funding and artificially inflate commercial revenue by more than 900 million pounds.
The explosive findings, published following a multi-year investigation into over 100 regulatory charges, determined that City would have exceeded financial spending limits by a substantial margin had revenue been declared accurately.
Manchester City chief executive Ferran Soriano dismissed the verdict, labelling the outcome a conspiracy theory and insisting the club will contest the findings through every available legal avenue.
The ruling casts a shadow over City's blistering start to the campaign under Enzo Maresca, where five consecutive victories have propelled them to the summit of the Premier League table.
