Manchester City have broken their silence following the recent charges from the Premier League over financial breaches, with England's reigning champions issuing a statement via their website in response to the recent controversy.

On the day after their disappointing 1-0 loss away to Tottenham, the Cityzens were slapped with over 100 charges over alleged breaches of the league's financial regulations, ranging from the club's financial position and sponsorship revenue to the remuneration of players and managers.

Despite this, Manchester City claim to be taken aback by these charges. The club released an official statement, labeling this recent development as a surprise given the "extensive" proof against the accusations. Additionally, the Premier League champions have welcomed the decision to refer this case to an independent commission.

"Manchester City FC is surprised by the issuing of these alleged breaches of the Premier League Rules, particularly given the extensive engagement and vast amount of detailed materials that the EPL has been provided with," the statement read.

"The Club 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 such we look forward to this matter being put to rest once and for all."

Nonetheless, the general consensus regarding this issue is that Guardiola's side are in tremendous trouble. In fact, the English giants could face a slap-on-the-wrist fine, a points deduction, or even expulsion from the Premier League itself — that is the harshest and thus least likely punishment.

A commission independent of the PL will consider the multiple charges against Manchester City. If found guilty, all options including a fine, points deduction or even expulsion are available to the commission panel

— Mark Ogden (@MarkOgden_) February 6, 2023

Another blow to City is their inability to appeal the decision to the Court of Arbitration for Sport. When the club were found guilty by UEFA over FFP breaches and overstated sponsorship income, the Abu Dhabi-owned side appealed the decision to the CAS and had it reversed. However, that option isn't available should the verdict from the independent commission go against the Premier League team.

Man City latest: under Premier League rules the club will not be able to appeal any sanction to the Court of Arbitration for Sport (which overturned the UEFA ban)

— Martyn Ziegler (@martynziegler) February 6, 2023

Additionally, a statement from Pep Guardiola has resurfaced in which the Spanish tactician admits that he would leave the club immediately if they were found guilty of financial doping — though he reiterates his belief in their innocence. Could the Etihad Stadium side lose both their status in the English top flight and one of the greatest managers of all time? Given the scope of these allegations, expect a drawn-out legal battle to ensue before a verdict is issued.

"If you're lying to me, the day after I'm not here. I will be out and you will not be my friend anymore."

Pep Guardiola in May 2022 said he would leave the club if they were found guilty of breaching FFP. pic.twitter.com/C1PqdYgcAG

— Football Daily (@footballdaily) February 6, 2023