An independent commission has released a report detailing findings that Manchester City breached Premier League financial rules. The core of the commission's decision centers on the club's sponsorship arrangements, which investigators have labeled as "shams." According to the report, these agreements were used to disguise the true source of funding for the club.

The investigation traces the financial challenges back to the club's acquisition in 2008 by Sheikh Mansour bin Zayed al-Nahyan. While the new ownership had ambitious goals for the club's growth, the commission found that the revenue generated by the club at the time was insufficient to support those plans. To bridge this gap, the commission concluded that the club engaged in dishonest practices regarding their financial reporting and sponsorship income.

The report highlights that the club's reliance on these disguised funding streams allowed them to circumvent established financial regulations designed to ensure competitive balance within the league. The commission's findings represent a significant development in the ongoing scrutiny of the club's financial conduct, confirming allegations that the sponsorship deals were not arm's-length transactions but rather mechanisms to inject capital into the club under the guise of commercial revenue. The commission explicitly noted that the evidence pointed toward a deliberate effort to mislead league officials regarding the club's financial health and compliance with spending caps.