Man City surprised after Premier League confirm findings of serious financial breaches

Sept 29 - The Premier League announced on Tuesday that an independent commission had found Manchester City guilty of all charges related to serious financial breaches between 2009 and 2018.

• Premier League say Manchester City used 'sham contracts' to artificially inflate revenue and reduce costs during nine-year period, funded by Abu Dhabi United Group Investment & Development Ltd, which owned the club.

• Sham contracts amounted to £900 million ($1.19 billion) variation in club accounts over nine-year period.

• Manchester City disappointed and surprised by 'opinion' of Premier League commission. Club say they will be 'relentless' in bid to prove innocence.

• Findings of independent commission are open to appeal, which City say they will now pursue. Appeal deadline is set for October 2.

• Premier League say Manchester City systematically broke Premier League rules.

• Sanction will be addressed separately by independent commission.($1 = 0.7569 pounds) REUTERS