Manchester, Sept. 25 -- Manchester City are facing reported guilty verdicts in the majority of the 115 financial charges brought against them by the Premier League, although the club has stressed that the legal process remains ongoing.

Media reports on Friday claimed that an independent panel had found Manchester City guilty on 114 of the 115 counts in the case. The Premier League, however, declined to comment on the reports, while City did not deny that the panel had informed them of its decision, according to ESPN.

A statement issued by City on Friday read, "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 consis...