The Athletic and BBC Sport have reported that an independent commission has reached its verdict following the long-running case, although the findings have not yet been formally announced by the Premier League.
No sanction has been decided, with the next stage of the process expected to determine any punishment.
Manchester City have not confirmed or denied the reported findings. Instead, the club issued a statement stressing that the Premier League process remains ongoing.
“The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality.
“As such Manchester City FC’s position remains consistent with the Club’s statement of February 2023.
“The Club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence.”
The Premier League declined to comment on the reports.
BBC Sport has also been told that City will appeal against the findings if they are confirmed.
The Premier League charged City in February 2023 following a four-year investigation into alleged breaches covering the period from 2009 to 2018.
The charges relate to alleged failures to provide accurate financial information, alongside claims concerning player and manager payments, profitability and sustainability rules, UEFA regulations and the club’s cooperation with the investigation.
The independent hearing began in September 2024 and lasted 10 weeks.
City have consistently denied wrongdoing throughout the case.
The dispute follows an earlier UEFA case in which City were given a two-year ban from European competition in February 2020. That punishment was overturned by the Court of Arbitration for Sport later that year.
The Premier League case remains unresolved, with the independent commission’s reported findings now bringing the eight-year investigation to its next stage.