UEFA is monitoring developments and will wait until the end of the Premier League's disciplinary process before deciding whether to take any potential action against Manchester City.

City have been found guilty by an independent commission of breaking the Premier League's financial rules between 2009 and 2018, including five charges of failing to comply with UEFA's Financial Fair Play rules.

UEFA financial rules at the time meant clubs were effectively limited to spending what they earned within set break-even requirements.

The independent commission found that City's owners put in £830m of their own money and disguised it as sponsorship income for nine seasons.

City are appealing the decision and maintain they have a comprehensive body of irrefutable evidence which will clear their name.

In 2014 City entered into a settlement agreement with UEFA which included a £49m (£32m of which was suspended) fine after they were charged with breaking Financial Fair Play rules.

In 2020 City were found guilty of breaking UEFA's Financial Fair Play rules, fined €30m (£25.4m) and banned from playing in European competitions for two years.

City appealed to the Court of Arbitration for Sports and the ban was overturned, with CAS ruling that UEFA had not established that City's owners had disguised equity funding as sponsorship contributions, while other breaches were time-barred.

CAS reduced City's fine from €30m (£25.4m) to €10m (£8.5m) for failing to co-operate with the UEFA investigation and stated that most of the alleged breaches "were either not established or time barred".

UEFA has a statute of limitations of five years for financial rule breaches, whereas the Premier League does not have a statute of limitations.

UEFA's case was triggered by hacked City emails which were published by German magazine Der Spiegel in 2018.

City said the internal documents were "out-of-context materials purportedly hacked or stolen" as part of an "organised and clear attempt to damage the club's reputation".

The Premier League investigation had access to documents and evidence which were not available to UEFA when it were building its case against City.

City and UEFA have been contacted for comment.

Analysis: How long will Man City's appeal take?

Sky Sports News' Kaveh Solhekol:

"The appeal went in on Thursday at 7pm and so, according to the Premier League's rules, the appeal has to be done and dusted in 12 weeks from then, which takes us into the week before Christmas.

"The appeal can only last five days and those five days can only be in one block.

"The appeal panel, which has to be a different three-person panel from the original panel, would have 30 days to make up their minds and deliver their judgement. That would take you into the third week of January.

"Now that is the speeded-up timeline which has been introduced into the Premier League's rules this season.

"Now, Man City could argue that this speeded-up timeline should not apply in this case because this case has been going on for years and this new rule has only been introduced this season. That is something to look out for."

Details of Man City's appeal strategy explained

Latest from Sky Sports News' Lyall Thomas:

Manchester City are likely to argue as part of their appeal that the extra funding for their sponsorship deals came from the Abu Dhabi government rather than the club's owners, Sky Sports News understands.

City's lawyers argued during the 2024 hearing that the funding had come from the Abu Dhabi government, but this was rejected by the independent commission, which "concluded it was an explanation that the club had concocted well after the event in an attempt to conceal the realities of the Disguised Funding Scheme".

However, it is understood City are expected to continue contesting this argument.

Manchester City is majority owned by Sheikh Mansour bin Zayed Al Nahyan's Newton Investment and Development LLC. Sheikh Mansour is also a member of the ruling family of Abu Dhabi and he is the vice-president and deputy prime minister of the United Arab Emirates.

The separation of UAE state investment and those that are private from the Abu Dhabi royal family has long been a subject of debate and criticism.

What did the independent commission find?

City: Process was not impartial

Following the publication of the guilty verdict on September 29, a Manchester City statement read: "Manchester City FC is both disappointed and surprised by the opinion of the Premier League commission, that has been published today.

"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. 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.

"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 club is obviously restricted in what it can say further until all future proceedings are complete."

Manchester City's statement erroneously refers to a Premier League commission. It is an independent commission.

Why Man City's appeal could drag into 2027

Latest from Sky Sports News' Kaveh Solhekol and Amar Mehta:

Manchester City's appeal could drag on into next year if they argue that the process should not be run according to Premier League rules which were introduced for this season.

City have filed their appeal and the new rules about appeals state that this part of the disciplinary process has to be concluded within 12 weeks and the appeal hearing can last no longer than five days.

City's lawyers could argue that they were charged in 2023 and a hearing was held in 2024 - when the rules about a speeded-up appeals process were not in the Premier League Handbook.

A legal expert told Sky Sports News Manchester City would have a strong case for arguing that the new rules should not apply in this case.

The new rules were introduced to ensure that clubs, where possible, were punished in the same season as relevant rule breaches.