Writers 
Manchester City’s long-running financial case has finally reached a major turning point — but the story is far from over.
For more than three years, Manchester City have been at the centre of one of the biggest financial investigations in English football. What began with 115 alleged breaches of Premier League rules in February 2023 has now reached a reported verdict, with reports claiming that an independent tribunal found the club guilty of 114 of the 115 charges.
However, there is an important point to understand: the Premier League has not yet officially published the full judgment. The process remains confidential, and Manchester City have maintained that the case is still ongoing. The club is also expected to appeal.
So what exactly is this case about, and what could happen to Manchester City?
How Did the 115 Charges Begin?
The Premier League officially referred Manchester City to an independent commission on February 6, 2023, following a lengthy investigation into the club's finances.
The allegations cover several seasons, particularly from 2009-10 to 2017-18, as well as accusations that City failed to cooperate properly with the Premier League's investigation between 2018 and 2023.
According to the Premier League's original announcement, the allegations included failing to provide accurate financial information, particularly concerning revenue, sponsorship arrangements, related-party transactions and operating costs.
The 115 charges have generally been divided into five major areas:
- 54 alleged failures to provide accurate financial information
- 14 alleged failures involving player and manager remuneration
- 5 alleged breaches of UEFA financial rules
- 7 alleged breaches of the Premier League's Profitability and Sustainability Rules
- 35 alleged failures to cooperate with the Premier League investigation
City have consistently denied the allegations.
The Names and Eras Involved
The case covers a significant part of Manchester City's modern rise.
It includes periods when Roberto Mancini and Manuel Pellegrini were managers, as well as the early years of Pep Guardiola's Manchester City career.
Guardiola himself has not been accused of personally committing the financial breaches. The allegations concern the club. Nevertheless, because some of the seasons under investigation overlap with his time at City, the case has inevitably become part of the wider discussion surrounding the club's achievements.
And that is what makes this case so significant.
Manchester City won several major trophies during the period covered by the allegations, including Premier League titles. Their transformation from a club outside English football's traditional elite into one of the most successful teams in Europe happened during the same broad period being examined.
That does not automatically mean those trophies will be removed. A guilty finding does not itself mean that titles are immediately stripped. Any consequences would depend on the sanctions eventually imposed and the outcome of any appeal.
Why Has It Taken So Long?
The sheer size of the case is one reason.
The independent hearing began in September 2024 and lasted roughly 12 weeks, ending in December 2024. Hundreds of individual issues, financial records and legal arguments had to be examined.
The case has been described by legal experts as unprecedented in English football because of its scale and complexity.
For Manchester City supporters, the long wait has created frustration and uncertainty.
For rival clubs, meanwhile, the case has been closely watched because any significant punishment could potentially affect the Premier League's competitive landscape.
What Does Manchester City Say?
Manchester City have strongly rejected the allegations throughout the process.
Following the latest reports, the club reiterated that the Premier League process remains ongoing and that significant elements still have to be completed.
City have also argued that they expected the Premier League's process to be handled independently and fairly.
The club is expected to appeal against the reported findings, meaning that even if the reported 114-charge verdict is confirmed officially, it may not be the final word.
What Could Happen to Manchester City?
This is where the situation becomes particularly interesting.
The Premier League does not have one automatic punishment for this type of case.
Possible sanctions can include a financial penalty, points deduction, restrictions on player registration, suspension, compensation orders or, in the most extreme circumstances, expulsion from the Premier League.
A points deduction could potentially be large enough to have a major effect on City's league position. However, the exact punishment cannot be known until the sanctioning process is completed.
There is also the possibility of an appeal.
If City appeal, the legal battle could continue for considerably longer. That means today's reported verdict may represent another major chapter rather than the conclusion of the entire saga.
Could Manchester City Be Relegated?
Technically, severe sanctions can include consequences that could result in relegation.
But it would be wrong to say that relegation has already been decided.
The reported guilty verdict and the eventual punishment are two different stages of the process.
The independent panel must determine the appropriate sanctions, and Manchester City can then challenge the relevant findings through the appeal process.
So for now, talk of relegation remains a possible consequence rather than an established outcome.
Could Manchester City Lose Their Premier League Titles?
This is another question that has generated enormous debate among football fans.
Several Premier League titles were won during periods covered by the allegations. But a guilty finding does not automatically mean that those trophies are erased.
Any decision affecting previous results, titles or other competitions would depend on the specific sanctions and legal processes that follow.
There is also a wider issue involving other Premier League clubs.
Reports indicate that some clubs have already sought legal advice about whether they could pursue compensation if Manchester City are ultimately sanctioned for financial breaches that affected the competitive environment.
That could potentially create another complicated legal battle.
The Bigger Question: What Does This Mean for English Football?
Beyond Manchester City, the case could have implications for the Premier League's financial regulations.
Manchester City have been one of the dominant forces in English football for more than a decade. The club's success has coincided with enormous investment, major transfers, high-profile managers and some of the most expensive squads in football history.
The Premier League's financial rules are designed to make sure clubs provide accurate financial information and operate within established financial limits.
If the reported findings are eventually confirmed and upheld through the appeal process, the case could become one of the most important financial-rule decisions in Premier League history.
It could also influence how future financial investigations are handled.
Pep Guardiola's Legacy in the Spotlight
One name inevitably connected to the wider conversation is Pep Guardiola.
Guardiola joined Manchester City in 2016 and went on to oversee one of the most successful periods in the club's history.
But the legal case is about alleged actions by Manchester City as a club, not an allegation that Guardiola personally committed the breaches.
That distinction is important.
The football manager's achievements on the pitch and the club's financial affairs are separate questions, even though the two periods overlap.
The Story Is Not Finished Yet
For Manchester City, September 2026 has brought the biggest development yet in a case that has followed the club for years.
Reports of 114 charges being upheld represent a serious development, but the full official judgment and sanctions remain crucial.
Manchester City are expected to appeal, and the Premier League has so far declined to publicly discuss the confidential proceedings.
So while headlines may suggest that the 115-charge saga is finally over, it may actually be entering its next major phase.
The question is no longer simply whether Manchester City will receive a verdict.
The questions now are:
What punishment will follow?
Will Manchester City appeal successfully?
Could other Premier League clubs seek compensation?
And perhaps most importantly, what will the final outcome mean for one of the most successful teams English football has ever seen?
For now, Manchester City's trophy cabinet remains where it is, the club continues to operate in the Premier League, and the legal process continues.
The next chapter could be just as significant as the verdict itself.
