The main allegations put towards City are inaccurate financial reporting, failure to disclose certain player/manager payments, alleged breaches of financial sustainability rules and UEFA rules, and non-cooperation.
City deny all the allegations and have maintained that they have evidence supporting their defence.
The independent commission's hearing ran for 12 weeks from September to December 2024 but no verdict came as fans scratched their heads.
Premier League CEO Richard Masters recently said the process has taken “longer than expected”, but he could not give a timetable as to when a decision would be made.
Now, The Atheltic's David Ornstein reports that City have been found guilty of 114 charges, but the sanctions have not been decided, with all possibilities remaining on the table, and City are expected to appeal.
A City spokesperson told The Athletic: “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 the Premier League board and executive would behave as an independent, impartial and fair minded regulator, free from partisan influence.”
More news should come on the story soon, but punishments for such breaches could include fines, points deductions and even expulsion from the Premier League altogether.