Sources briefed on the matter told The Athletic on Friday that City had been found guilty on all but one of the charges. The Citizens are expected to appeal the decision, while sanctions are yet to be determined.
The financial charges cover a period from the 2009/10 to the 2017/18 seasons. City were also charged with failing to cooperate with the Premier League’s investigation, with those allegations covering a later period.
Possible penalties range from a reprimand or fines to a points deduction, with expulsion from the Premier League also among the sanctions available to a disciplinary commission.
Any points deduction could be imposed in the season in which the decision is made or applied retrospectively, raising the possibility that City could be stripped of titles won during the period covered by the charges.
A spokesperson from City said: "The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality."
The Premier League brought 115 charges against City in February 2023, following a four-year investigation into the club’s financial affairs. The Citizens have consistently denied wrongdoing.
Everton were docked 10 points in 2023 for a single breach of the Premier League's profitability and sustainability rules. This was later reduced to six points after an appeal. The Toffees received a further two-point deduction for a separate breach, while Nottingham Forest were docked four points in 2024.