Manchester City CEO Ferran Soriano has stated that the club's guilty verdicts for financial rule violations are rooted in "a single false accusation" and a "Premier League conspiracy theory," while insisting City is not guilty.
On Tuesday, an independent panel confirmed that City had artificially boosted revenue and cut costs by over £900 million across nine years through "sham" sponsorship deals, primarily funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), which owns the club. In a video message to City staff following the guilty verdict on more than 100 charges, Soriano announced the club would appeal and contest the case.
