The Premier League said on Tuesday that Manchester City was found guilty of almost all of the 115 financial wrongdoing charges it faced.

According to the league, the breaches involved inflating sponsorship deals, hiding payments to staff and players, and filing misstated accounts that artificially raised the club’s revenue by more than £900 million.

Premier League chief executive Richard Masters warned that sanctions could include a large points deduction or expulsion from the competition. The league will decide the penalty in a separate hearing, and City must lodge an appeal by Friday.

The case began in 2018 after leaked club emails and documents were reported, and the Premier League said the investigation continued for several years before the independent commission delivered its verdict.

If the league imposes severe punishment, it would send a clear message that financial rules apply to every club, protecting the fairness and reputation of English soccer.