Manchester City has issued an update regarding the outcome of the hearing into the Premier League financial charges leveled against them. The club was initially charged in February 2023 with over 100 alleged breaches of financial regulations spanning a nine-year period from 2009 to 2018.

The update is contained within Manchester City's annual report. It states that the independent commission appointed by the Premier League is still reviewing the matter, more than a year after the hearing concluded. The club had welcomed the review when the charges were first brought and maintains that there is "irrefutable evidence" to support their position and prove their innocence.

The club's annual report stated that it welcomes the review of this matter by an independent Commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position. As of the date of publishing these financial statements, the independent Commission is still in the process of reviewing the matter.

According to the Daily Express, an independent tribunal convened 12 months ago, yet the club, alongside the broader English football community, remains in limbo awaiting the outcome. No public ruling has been delivered by the panel to date.

Former financial advisor Stefan Borson suggested last month that a decision was 'imminent' and could be announced before Christmas. However, City's annual report indicates the independent panel continues 'reviewing the matter'. Borson also expressed his view that neither the club nor the Premier League should shoulder the blame for the protracted nature of the case. He added that all the lawyers are surprised there is no decision at this stage, and that’s on both sides. He believes the panel making the decision is holding it up.

The Manchester City case differs from recent profit and sustainability rules (PSR) charges brought by the Premier League against Everton and Nottingham Forest. Those clubs accepted they had breached spending limits and therefore received their points deductions at the same time as the commission published the guilty verdicts.

Manchester City strongly deny breaching financial fair play rules however, and the commission's judgement will focus on whether they are guilty of each charge. A source who has been involved in similar cases explained that such is the number and range of the charges that it would have been impossible for both parties to make submissions on sanctions during last year's hearing, and that will take place at a later date. The prospect of an additional hearing means it is likely that the case will drag on beyond the end of the season, more than three years after City were first charged by the Premier League.

Any appeal would most likely take place after a sanctions hearing, unless City's legal team concluded that the commission has made clear errors in points of law in reaching their verdict.