An independent panel has ruled that Manchester City arranged "sham" contracts and other financial breaches worth more than £900 million ($1.703 billion). The decision marks the biggest scandal in Premier League history.

The panel found the club guilty of almost all 115 unprecedented charges, covering a nine‑year period from 2009 to 2018. These charges include inflating sponsorship figures and hiding payments.

Premier League chief executive Richard Masters said City "systematically broke Premier League rules for nearly a decade". The league now faces a separate hearing to decide sanctions, which could include a massive points deduction or even expulsion.

Manchester City has said it is "disappointed and surprised" by the verdict and will appeal. The appeal must be lodged by Friday, according to the league’s deadline.

The ruling is expected to trigger lawsuits from rival clubs seeking compensation, highlighting how breaching financial‑fair‑play rules can threaten a club’s future and undermine competition fairness.