Independent panel finds Manchester City guilty of 114 of 115 Premier League charges after probe
On October 1, 2026, an independent panel concluded that Manchester City were guilty of 114 of the 115 charges brought in a Premier League financial investigation after a lengthy inquiry into the club’s accounts and commercial arrangements.
The panel's findings centre on money that flowed into the club following its 2008 takeover by Abu Dhabi United Group (ADUG) and how those sums were recorded in City’s accounts. Investigators focused on whether large amounts logged as sponsorship revenue were actually owner funding, noting that European football rules are intended to prevent owners from simply covering club losses; the period under scrutiny ran from 2009 to 2018, during which City’s financial and sporting profile changed markedly.
The inquiry relied on leaked emails, sponsorship contracts, payment records, financial statements and internal correspondence to trace where funds originated and how they were presented in the accounts. Associated Press reported the probe can be traced to 2018, when leaked emails first raised questions about Manchester City’s finances, leading to a prolonged investigation and hearing that produced findings on more than 100 alleged breaches.
Investigators examined commercial deals with several Abu Dhabi-based companies and described the arrangements as a "Disguised Funding Scheme." The panel said sponsors recorded only a "base sum" while a much larger "tagged sum" was supplied by ADUG, allowing owner money to be entered into the club's books as sponsorship income. Over the nine-year period under review, Abu Dhabi sponsors paid £119.25 million of the £949.94 million recorded as sponsorship revenue, with ADUG accounting for the remaining £830.69 million; the alleged tagged sums rose to £134.73 million in the 2017-18 season.
The report highlighted a May 2013 episode in which a £9.9 million shortfall was addressed after several modified sponsorship agreements were produced within days, despite investigators finding the sponsors had not been approached about additional payments. The Premier League said City occasionally "tweaked" arrangements to reduce scrutiny. Manchester City has argued that its Abu Dhabi-based sponsors sometimes received financial assistance from the Abu Dhabi government to meet commitments; the panel rejected that account as an explanation "concocted well after the event."
The panel also scrutinised the Fordham Agreement on player image rights, concluding the scheme was "little more than a front" that let owner funding appear as operating income while excluding certain operating expenses. The report found £24.5 million of operating income had been wrongly recorded and £49.414 million in operating expenses had been wrongly excluded, figures the panel used to support its broader conclusion about concealed owner funding.
City's rapid on-field progress during the 2009-18 window—signing players including Yaya Toure, Sergio Aguero and Kevin De Bruyne, appointing managers Roberto Mancini and Pep Guardiola, winning three Premier League titles (including Guardiola's first) and qualifying for the Champions League in eight of the nine seasons—was noted in the report as contemporaneous to the financial arrangements under examination.
The panel found City guilty of almost all charges and said the club now faces potential sanctions that could include expulsion from the Premier League; Manchester City has said it will appeal the findings.