An independent commission ruled the club used sham arrangements to inflate revenue and cut costs by more than £900m, but City says it will contest the decision.
Khaldoon Al Mubarak said he is still confident Manchester City can prove the club's innocence, after it was found guilty of breaking Premier League financial rules.
The club plans to appeal 114 alleged breaches of Premier League financial rules, its chairman says.
Supporters are processing the news that the club has been found guilty of a majority of the financial rule breaches it was accused of.
The Premier League club had faced 115 charges of alleged financial rule breaches, according to BBC Business.