The Premier League has confirmed that Manchester City have been found guilty of all charges related to breaches of Premier League financial rules.

An independent commission found that City artificially inflated their revenue and cut costs by more than £900million over a nine-year period between 2009-10 and 2017-18.

It also found the club guilty of all charges except one relating to non-cooperation with Premier League investigations.

The commission's findings revealed that City arranged "sham contracts" with commercial partners, and relied on "sham agreements to artificially inflate the club's revenues and reduce its costs".

It was found that those sham commercial deals served as a "disguised funding scheme", allowing the club to raise revenue and reduce costs in order to comply with financial rules.

This enabled City to avoid "breaking the record for the largest single season loss in PL history" in the 2009-10 season.

"Those companies were only required to pay a portion of the relevant sponsorship fees," the Premier League said.

"The remainder was funded by Abu Dhabi United Group Investment and Development Ltd (ADUG), which owned the club."

The commission was also scathing of the conduct of certain witnesses brought forward by the club.

"Evidence given by a number of important factual witnesses called to give evidence on behalf of the club was false in a number of key respects," the statement said.

"Certain of those factual witnesses had given evidence at the hearing that they knew to be untrue and so had been dishonest."

Richard Masters, chief executive of the Premier League, said: “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.

“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."

He added: “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.”

City have until Friday, October 2 to appeal the findings of the commission and the club have confirmed their intention to do so.

In a statement released shortly after the league's announcement, City said they were "both disappointed and surprised by the opinion of the Premier League Commission".

"The club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case," City said.

"The club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums.

"The Premier League process remains ongoing, with significant elements uncompleted. Manchester City FC will now pursue the appeal avenues open to it, on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe."