Etihad Airways said Wednesday it was considering legal action against the Premier League after an independent commission found Manchester City guilty of serious breaches of the competition's financial rules.

The United Arab Emirates-based airline, Manchester City's main sponsor since 2009, "categorically rejects any finding, conclusion or implication that suggests the airline has ever been involved in improper commercial arrangements," it said in a statement.

Etihad stressed that it was not named in the redacted findings published following the commission's investigation but said the way the case had been communicated had created damaging implications for the airline.

"The Premier League's public communication of the commission's findings, following a period of selective leaks and reporting, has further created damaging implications for Etihad despite the airline not being named in the redacted published findings," it said.

Etihad also said it had been given no opportunity to engage in a process that now reflected adversely on the airline.

"Etihad is deeply concerned by the way this matter has been communicated publicly," the airline said.

"The lack of clarity and transparency, together with the selective disclosure of information, has created damaging implications for Etihad despite the airline not being named in the published decision."

"The Premier League must take responsibility for the consequences of the way in which these findings have been presented."

"Etihad will seek the relevant legal counsel on the options and recourse available to protect its interests."

Man City found guilty of financial breaches

An independent commission on Tuesday found Manchester City guilty of serious breaches of Premier League financial rules over nine seasons from 2009-10 to 2017-18.

The commission found that City used "sham" deals with unnamed sponsors to inflate its commercial revenue, with part of the sponsorship money actually funded by the club's owner, Abu Dhabi United Group.

It said these and other arrangements inflated revenues and reduced costs by more than £900 million ($1.19 billion), resulting in misstated accounts and allowing City to appear compliant with Premier League and UEFA spending rules.

The commission also upheld three of four charges concerning City's failure to cooperate with the Premier League investigation.

Manchester City said they were "disappointed and surprised" by the ruling and maintained their innocence, arguing that the decision contained "clear material errors" of law, principle and fact.

A separate hearing will determine any sanctions, while City has until Friday to appeal the findings. (AA)