Manchester City Chief Executive Officer, Ferran Soriano, has rejected the club’s guilty verdict over alleged breaches of Premier League financial regulations, describing the findings as a “Premier League conspiracy theory”.

Soriano made the comments in a video message sent to Manchester City staff and players following the independent commission’s ruling that the club had breached financial rules.

Sky Sports obtained the video, in which Soriano said the club remained confident in its position and would challenge the findings through the appeal process.

The independent commission found Manchester City guilty of all charges relating to serious financial breaches covering nine seasons between 2009 and 2018, as well as three of four charges concerning the club’s failure to co-operate with the investigation.

Soriano told staff that Manchester City had presented evidence which, in the club’s view, demonstrated that its owners’ funds were not improperly channelled into the club.

He said the commission had failed to properly consider evidence including bank statements and witness testimony presented during the proceedings.

Soriano also disputed the commission’s findings concerning the club’s commercial arrangements, maintaining that Manchester City had acted within the rules.

The Premier League said the commission found that the club had used arrangements involving commercial partners to inflate revenue and reduce costs by more than £900 million over the period under investigation. Manchester City has denied wrongdoing and said it intends to appeal the ruling.

In his message, Soriano sought to reassure staff and players that the club would continue to defend its position.

He said the club had been dealing with what he described as a single accusation that had developed into a wider dispute with the Premier League.

The chief executive also criticised aspects of the commission’s conclusions, arguing that they contained legal and factual errors.

Manchester City has not yet received a sporting sanction following the ruling. The club is expected to pursue an appeal, while the Premier League will determine the consequences arising from the commission’s findings.

The case has generated renewed debate over Manchester City’s titles and other sporting achievements during the period covered by the charges, with former Liverpool defender Jamie Carragher calling for the club to be stripped of trophies won during the relevant period.

City has maintained its denial of wrongdoing throughout the proceedings.