Manchester City chief executive officer Ferran Soriano has claimed the bombshell guilty verdict against the club is the result of a "Premier League conspiracy theory" and that the club will appeal the ruling. City were found guilty on Tuesday of all charges related to breaches of Premier League financial rules between 2009-10 and 2017-18 by an independent commission.

The club said they will appeal "on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe." In a video message to club staff, Soriano said the case is based on a single false accusation that the owner's personal money was secretly put into the club via sponsors from Abu Dhabi.

"Irrefutable evidence has been provided to the Premier League commission that shows that it could not happen and that it did not happen," he said, citing bank statements, money transfers, and witnesses. Soriano added that the opinion had to "ignore the extensive evidence provided by the club in order to reach a conclusion that is clearly wrong."

He referenced the club's successful 2020 appeal to the Court of Arbitration for Sport (CAS) that overturned a two-year ban from European competitions, saying "we have been here before." Soriano vowed to be "relentless" and seek compensation from any party that tries to damage the club.