A verdict on Manchester City's 115 charges is expected imminently, with one source claiming that 'all hell could break loose' when it's released.
City were accused of 115 breaches of Premier League rules in February 2023 and now, more than two and a half years later, a decision finally appears to be approaching.
A hearing was held between September 2024 and December 2024, with an independent three-person commission reviewing evidence presented by both sides.
City have strenuously denied all charges and remain "totally confident" of being cleared.
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A verdict was initially expected earlier this year, but according to the i Paper, a source with inside knowledge of arbitration cases now believes the decision will arrive in mid-November.
The unnamed source told the publication: "It's gone very quiet and because it's been going on for so long it's almost been forgotten about.
"But all hell could break loose when it lands."
The report adds that several Premier League boardrooms believe the start of the season may have been the "quiet before the storm", with many clubs preparing for a legal fallout once the verdict arrives.
When is the verdict expected?
A verdict was initially expected towards the start of the year.
But in February 2025, Manchester City boss Pep Guardiola claimed that the outcome would be known within a month, although that did not materialise.
Speculation has grown throughout October, with The Independent's Miguel Delaney reporting that the verdict is close.
And legal expert Stefan Borson told talkSPORT he believes a decision is "imminent".
A source told the i that lawyers work on the basis that for every week of a hearing, the panel requires four weeks to deliberate.
With City's hearing lasting 12 weeks, that would place a verdict around November 2025.
What are Man City's charges?
The total number of alleged rule breaches is believed to be 130, with the initial figure of 115 reportedly due a Premier League reporting error.
Here is the breakdown of alleged charges:
- Failure to provide accurate and up-to-date financial information from 2009/10 to and including 2017/18 - 54 alleged breaches
- Failure to co-operate with Premier League investigations from December 2018 - present [February 2023] - 35 alleged breaches
- Failure to provide accurate financial reports for player and manager compensation from 2009/10 to and including 2017/18 - 14 alleged breaches
- Breaches of Premier League profitability and sustainability regulations from 2015/16 to and including 2017/18 - seven alleged breaches
- Failure to comply with UEFA's regulations, including UEFA's Club Licensing and Financial Fair Play Regulations - five alleged breaches
What happens if Man City lose?
If found guilty, City could face a range of punishments, including unlimited fines, points deductions, or even expulsion from the league.
However, law firm Norton Rose Fulbright believe the most severe penalties are unlikely, suggesting the Premier League would take a 'pragmatic' approach.
Other Premier League clubs could potentially seek financial compensation from City if they lose the case.
Daniel Gore, a senior associate with Withers, told the i that rival clubs could seek redress under certain circumstances.
"Relegation has very clear financial losses from TV money and just having the Premier League share so it feels more straightforward," said Gore.
"Whether teams can say 'We would have made it into the Champions League, Europa League or won the Premier League and made this much money because of this or that' might be difficult to prove but it's certainly not impossible."
Meanwhile, Norton Rose Fulbright state that the tribunal's verdict is "overwhelming likely to be the final decision".
Appeals can only be made under limited circumstances, which are unlikely to apply to this case.
Topics: Football, Manchester City, Pep Guardiola, Premier League
James Taylor