https://www.premierleague.com/en/news/4727779/premier-league-statement-manchester-city-fc
The purpose of these schemes was found to have been to artificially inflate the club’s revenues, and reduce its costs, by more than £900 million during the affected period, to appear to comply with financial rules.
and from Dick Masters: "This disciplinary case, and this decision, are the most significant in Premier League history." which hopefully means a punishment that matches said significance...