However, the case is not over. No sanction has yet been formally approved, Manchester City continue to deny wrongdoing, and the club is expected to appeal any adverse findings or punishment.
What are the charges against Manchester City?
The Premier League referred Manchester City to an independent commission in February 2023 over alleged financial-rule breaches covering the 2009-10 to 2022-23 seasons.
The allegations include claims that City failed to provide accurate financial information, including information relating to sponsorship revenue and operating costs. The Premier League also alleged breaches of financial regulations concerning managerial remuneration and UEFA financial rules.
The independent hearing took place between 16 September and 6 December 2024, before a three-person commission appointed through the Premier League's independent judicial process.
Reports on 25 September 2026 said the commission had found City guilty of all but one of the 115 alleged breaches.
The Premier League has not publicly released the full verdict, citing the confidential nature of the proceedings. City, meanwhile, said the process remains ongoing and maintained its position that it has done nothing wrong.
What punishment could Manchester City face?
Under Premier League rules, possible sanctions include a fine, points deduction or expulsion from the league. Other sporting measures could also be considered depending on the commission's eventual decision.
The cases involving Everton and Nottingham Forest have established that points deductions can be imposed for financial-rule breaches. Everton received a total of eight points in deductions during the 2023-24 season across two separate cases, while Nottingham Forest were deducted four points for one breach.
The scale of City's case is substantially broader, however, with allegations covering more than a decade and 115 charges.
No final punishment has yet been announced, so suggestions that City have already been relegated or expelled from the Premier League would be premature.
What happens if City appeal?
The reported verdict is expected to lead to another lengthy legal stage.
Manchester City chairman Khaldoon Al Mubarak has said the club remains determined to prove its innocence, while chief executive Ferran Soriano reportedly told European club executives that the dispute could take years to reach a final conclusion.
A key question will be whether any sanction takes effect before an appeal is concluded.
If punishment is imposed immediately, City could potentially face sporting consequences while an appeal is still ongoing. If enforcement is delayed, however, other clubs could be affected by the eventual redistribution of league positions or European qualification places.
There could also be further legal proceedings in England's High Court if City challenge aspects of the arbitration process after the Premier League procedure has concluded.
Could Manchester City lose Premier League titles?
The possibility of retrospective changes to previous competitions has generated considerable debate, but there is currently no confirmed decision to strip Manchester City of any titles or trophies.
The charges relating to the period from 2009 to 2018 cover four Premier League titles, four League Cups and one FA Cup won by City during that period. However, any retrospective alteration to historical results would involve additional legal and regulatory questions.
Rival clubs could also pursue financial compensation, with the potential consequences extending beyond sporting sanctions.
What about City's current squad?
So far, the uncertainty surrounding the case has not prevented Manchester City from making major investments in their squad.
The club spent approximately £460 million in the 2026 summer transfer window, including deals involving Enzo Fernández, Elliott Anderson and Ayyoub Bouaddi, according to AFP.
Erling Haaland also remains under a long-term contract after signing a nine-year deal in 2025.
Whether players have negotiated clauses that could allow them to leave if City receive severe sporting sanctions is not publicly clear.
A case that is still far from finished
The reported finding of 114 proven charges represents a major development in the Premier League's longest-running financial case, but it is not the final chapter.
Manchester City continue to deny wrongdoing, the full verdict has not been publicly released, no sanction has yet been confirmed, and an appeal is expected.
The next major stages will therefore be the publication and scrutiny of the commission's findings, determination of any punishment, and the subsequent appeal process.
Until those stages are completed, the precise sporting and financial consequences for Manchester City remain unresolved.