According to a Premier League statement, the independent panel upheld allegations that Manchester City overstated commercial revenues and disguised operational costs through inaccurate sponsorship agreements, while also ruling against the club on three of four non-cooperation charges. Manchester City CEO Ferran Soriano vehemently rejected the findings, confirming the club will launch an appeal on the grounds of errors in law and fact. While Premier League regulations allow for penalties ranging from financial fines and point deductions to registration bans or league expulsion, specific sanctions remain undecided. Analysts at Goal.com highlight that any eventual penalty will raise complex questions about the retrospective impact on City's three league titles won during the period in question, European qualification distributions, and consistency with prior financial fair play rulings across English football.