Manchester City has been found guilty of all finance breach charges after arranging "sham deals".
The league admitted it broke Premier League financial rules between 2009-10 and 2017-18, the independent commission found.
Companies - a number of whom were part of a disguised funding scheme - were only required to pay a portion of the relevant sponsorship fees.
The probe found that the remainder was funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), the club's owner at the time.
Sanctions will be set out in a further hearing with the independent commission, the league confirmed.
In a statement, City said the club will pursue an appeal "on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe".
In the past, the club has consistently denied any wrongdoing, after being charged in February 2023 by the Premier League.
Another hearing concluded in December 2024.
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By GB News (World News) | Created at 2026-09-29 16:15:41 | Updated at 2026-09-29 19:33:36
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