Manchester City have lodged an appeal against their guilty verdict in the Premier League’s financial fair play case. The club submitted its formal challenge at 7pm on October 1, a day before the appeal deadline.

An independent commission found that City systematically broke league rules for nearly a decade. It ruled that the club used “sham” commercial deals to inflate revenue and cut costs by more than 900 million pounds between the 2009-10 and 2017-18 seasons.

Premier League chief executive Richard Masters said the verdict was damning. But City’s chief executive Ferran Soriano called the findings “a single false accusation” driven by a “Premier League conspiracy theory.”

The appeal will be heard by a new three-person panel, which must sit within 12 weeks. The club has argued there were “material errors in the findings” that made the verdict “unsafe.”

Sanctions have not yet been set. They could include a large fine, a points deduction or even expulsion from the Premier League.

City finished second last season and are unbeaten in the league so far. The case is the biggest legal battle in English football history.