The charges relate to breaches between the 2008/09 and 2017/18 seasons, with the club found guilty of breaching the Premier League's financial rules.
An independent commission found that the club had artificially inflated their revenues and reduced costs by more than £900 million during the time period mentioned.
The ruling also states that Manchester City committed multiple breaches of its duties of co-operation and utmost good faith towards the Premier League, and that they were in 'significant breach' of both the Premier League and UEFA's spending limits.
"An independent Commission has found Manchester City FC guilty of all charges related to serious breaches of the Premier League’s financial rules over a nine-season period, and the majority of charges in relation to its failure to co-operate with the League’s investigation," they said in a statement.
The independent commission's findings were published in a long report by the Premier League - the full extent of which can be found here.
Key findings
In a breakdown of some of the key findings, the statement confirmed that City had arranged 'sham' sponsorship contracts, which misrepresented the true agreement between the commercial partners involved, allowing them to artificially inflate the club's revenue and reduce their costs.
Manchester City also filed misstated accounts and concealed the true state of the club's finances from both auditors and football regulators.
The statement also says that the club were in significant breach of both Premier League and UEFA spending limits, while also confirming that they had been found guilty of some - but not all - of the charges in relation to co-operating during the nearly four-year-long investigation.
The initial charges were announced in February 2023.
“The core decision establishes the facts of what happened at Manchester City during this period. It details how the club systematically broke Premier League Rules for nearly a decade," Premier League Chief Executive Richard Masters said.
“It also vindicates the Premier League’s decision to pursue this case against Manchester City. While the process to date has been both long and difficult, the League has remained determined that the facts be established independently.
“It is a key responsibility of the Premier League to ensure that the Rules, approved by the clubs themselves, are upheld to protect the integrity of the competition. It is paramount that the League remains competitive and fair for all clubs and for the fans. We take that role extremely seriously.
“This disciplinary case, and this decision, are the most significant in Premier League history. There are elements of the case that remain to be decided, including, importantly, what sanction must follow for these breaches. Now we have the Commission’s decision, we are committed to moving swiftly through the remainder of the process, to provide certainty for the League, our clubs and fans.”
Manchester City had the right to appeal the verdict up until Friday, October 2nd, and they have already confirmed that they will appeal the decision - stating that they were 'disappointed and surprised' by the verdict.
The Premier League have confirmed that, now the charges have been proved, they will aim to work swiftly to reach a conclusion on the sanctions to be put in place - although that will be a separate, confidential process, with the outcome made public once publication is permitted.