Manchester City have been found guilty of all charges of serious breaches of the Premier ​League's financial rules between the 2009/10 and 2017/18 seasons, the ‌league said in a statement on Tuesday.

City were charged in February 2023 with breaches of the league's financial rules spanning nine seasons following a ​four-year investigation.

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The club said in a statement it would appeal "on ​the basis that the opinion contains clear material errors, ⁠of law, principle and fact, and is unsafe".

An independent commission found ​that City "arranged ‘sham’ contracts (which misrepresented the true agreement between the parties) with ​a number of its commercial partners," the league said.

The league added that the commission had found City used schemes “to artificially inflate the club’s revenues, and reduce ​its costs, by more than £900 million during the affected period, ​to appear to comply with financial rules."

“The core decision... details how the club ‌systematically ⁠broke Premier League Rules for nearly a decade," said Richard Masters, the chief executive of the Premier League.

"There are elements of the case that remain to be decided, including, importantly, what sanction must ​follow for these breaches."

City, ​who deny ⁠any wrongdoing, said they were disappointed and surprised by the commission's opinion.

"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 said.

"Manchester City FC will now ⁠pursue the ​appeal avenues open to it, on ​the basis that the opinion contains clear material errors, of law, principle and fact, and ​is unsafe."