Manchester City could reportedly face relegation after they were charged by the Premier League with breaking more than 100 financial rules.
Following a four-year investigation by the Premier League, they referred the club to an independent commission for alleged breaches of financial regulations between 2009 and 2018.
The Premier League said in a statement that Man City breached rules which required them to disclose "accurate financial information that gives a true and fair view of the club's financial position."
Among the charges, Man City have been accused of breaking Premier League rules on profitability and sustainability over three seasons from 2015-16 to the 2017-18 season.
In response, the Citizens released their own statement revealing that they were "surprised" by the alleged financial breaches.
© Reuters
The case will now go to an independent commission, which is likely to be chaired by Murray Rosen KC, who was appointed chair of the Premier League's first judicial panel in 2020.
According to The Telegraph, Man City could face a number of punishments, including relegation from the Premier League.
The report also claims that the Premier League have the right to strip the club of their league titles and hand out a points deduction.
Other potential punishments include a recommendation for league matches to be replayed, order compensation, the cancellation or refusal of player registrations, conditional punishment or order for the club to pay costs.
In February 2020, Man City were fined £25m by UEFA and banned from playing the Champions League after being accused of "serious breaches" of club licensing and financial fair play.
© Reuters
Man City appealed the ruling and the decision was subsequently overturned by the Court of Arbitration for Sport (CAS), while the fine was reduced to £9m as 'most of the alleged breaches were either not established or time-barred.'
However, Man City will be unable to use a similar defence this time around as Premier League rules do not include a time bar.
In a separate report, The Times also states that there will be no option for the club to appeal any sanctions to CAS.
Meanwhile, on the pitch, Man City missed the chance to close the five-point gap to Premier League leaders after they lost 1-0 to Tottenham Hotspur on Sunday.
The Citizens will next be in action when they face Aston Villa at the Etihad Stadium on Sunday.
