LONDON (AFP) -- Manchester City chairman Khaldoon Al Mubarak said Saturday that the club was confident it could prove its "innocence" after reportedly being found guilty on all but one of 115 charges of breaching Premier League financial rules.
News of the decisions reached by an independent commission was widely reported Friday, but no official announcement has been made by the Premier League and there is no indication yet of any potential punishment.
Abu Dhabi-backed City has always strenuously denied the charges, and a club spokesperson said its position had not changed. It is understood that City will appeal if the reports are confirmed.
Mubarak issued a defiant statement Saturday, underlining his conviction that City would be vindicated, but said he was bound by "strict confidentiality."
"The Premier League process still has a long way to run, and our confidence and intent in proving the club's innocence is just as strong as when this began," he said in an open letter.
"There are so many things that I would like to be able to share with you to help you understand why we feel so confident in our position."
Mubarak added, "There remain many who want to undermine the momentum of our club. We will not give them that opportunity."
City was charged by the Premier League following an investigation into alleged breaches of regulations between 2009 and 2018.
The club was accused of failing to provide accurate financial information and details of payments to players and coaches, as well as breaching financial sustainability rules. It was also charged with failing to cooperate with the investigation.
City was referred to an independent commission, and a hearing began behind closed doors in September 2024, lasting about 12 weeks.
The latest developments, described as a "shock" by Oasis star and City fan Noel Gallagher, could have far-reaching implications.
Sanctions could include a severe points deduction and possibly even expulsion from the English top division, while other clubs are understood to be taking legal advice over potential compensation.
Former City chairman David Bernstein told Times Radio that a financial penalty would not be sufficient if the club is ultimately found guilty and urged a swift appeals process.
"I can't give a view on the punishment. If they are found, after the appeal, guilty of (the) charges, my beloved club is going to face a very severe penalty," said Bernstein, who was City chairman from 1998 to 2003.
"All I would say is that money is not sufficient -- it would have to be something, unfortunately, more drastic than that."
World Soccer writer Henry Winter said that if the charges against City were proven, the club would be guilty of "cheating on an industrial scale."
He said that in such circumstances "a logical way of dealing with this very fraught, seismic situation" would be to impose a large points deduction that would effectively relegate the club this season.
"It's a huge issue. This affects the Manchester economy, this affects issues in the northwest, this affects geopolitical elements between the United Kingdom and the UAE (United Arab Emirates), who are effectively the owners of Manchester City," Winter added.
Christian Purslow, a former Liverpool managing director and Aston Villa chief executive, warned that the situation could "spiral out of control."
"A never-ending waterfall of legal claims and uncertainties for another four or five years would be absolutely appalling for the game," he told the BBC.
In 2020, European soccer governing body UEFA imposed a two-year European ban on City as well as a fine for breaching financial fair play rules, though the ban was later overturned by the Court of Arbitration for Sport.
Everton and Nottingham Forest were both hit with points deductions in the 2023-24 season for single breaches of Premier League profit and sustainability rules.
Under the ownership of Sheikh Mansour, whose Abu Dhabi United Group acquired the club in 2008, City has become the dominant force in English soccer.
It has won eight Premier League titles, a Champions League crown and multiple other trophies over the past 15 years.
