City were charged in February last year, with more than 100 alleged breaches of finance rules since their acquisition by the Abu Dhabi-City Football Group, and were referred to an independent commission for a hearing.
If found guilty, City, in the worst-case scenario, could face a points deduction or even be relegated. City deny any wrongdoing and are contesting those charges. No verdict has been reached in the case.
"It is time now for the case to resolve itself," Masters told the BBC in an interview published on Tuesday.
"It's been going on for a number of years and I think it's self-evident that the case needs to be heard and answered."
On Monday, The Times reported that the hearing against City on the alleged breaches is set to start in September, with the outcome known early next year.
"When the case has been heard there will be a decision published and all the questions you would like me to answer will be answered as part of that process," Masters said.
Despite the cloud hanging over the club, City followed up their 2022/23 treble with an unprecedented fourth straight Premier League title last season.
City kick start their Premier League campaign away at Chelsea on August 18th.
