Manchester City's Premier League charges cover 2009 to 2018 and concern alleged "sham" commercial contracts that inflated revenue and understated costs by more than £900 million (NZ$2.1 billion).
After an independent commission found the club guilty of serious financial breaches, former manager Pep Guardiola publicly reaffirmed his support for City.
"Let me be clear: we will get through this together," he wrote on X, adding, "I love you all."
Guardiola said he stood behind the club, its owner and chairman, chief executive Ferran Soriano, the players, staff, successor Enzo Maresca and supporters.
Soriano addressed staff in a video on Tuesday and rejected the commission's findings.
Guardiola left at the end of last season after a decade in charge, having taken over in 2016.
His City teams won six Premier League titles, including four consecutive championships, three FA Cups, five League Cups and the Champions League.