Manchester City were reportedly informed of their guilty verdict on 114 Premier League financial breaches before spending £440m on new players this summer. The club has been found guilty of all but one of the 115 charges brought against them in 2023, with the announcement emerging on Friday afternoon.
According to ESPN, senior figures at City were first notified of the independent panel's decision back in July. The club subsequently made substantial investments in their squad, with seven senior additions arriving at the Etihad Stadium.
Record-breaking signings after verdict
City broke their own club transfer record twice, securing Nottingham Forest's Elliot Anderson for £116m in late July before completing a £125m deal for Chelsea's Enzo Fernandez on September 1. Other arrivals included Iliman Ndiaye from Everton for £65m, Ayyoub Bouaddi from Lille for £86m, Allan from Palmeiras for £34m, Jeremy Monga from Leicester City for £12.5m and Geronimo Rulli from Marseille for approximately £1.7m.
City declined to comment when approached by the publication on Tuesday, while the Premier League said on Friday that it would not address matters due to the "private and confidential" nature of proceedings. This follows reports that City are expected to appeal the verdict.
Club maintains innocence
The club have consistently maintained their innocence throughout the saga. Chairman Khaldoon Al Mubarak shared a letter with supporters on Saturday, expressing gratitude for their support and affirming the club would continue to fight their corner.
Premier League fans may face a prolonged wait before learning what sanctions officials will impose on City, given that the league has indicated it will not act until the entire process has concluded. Chief Executive Ferran Soriano has seemingly hinted that another lengthy wait could be on the cards.
Potential sanctions
Soriano attended a meeting in Copenhagen alongside Premier League officials this week, where he is believed to have said: "It has taken eight years to reach this point and it will still take much more time." Soriano also dodged questions from journalists in the aftermath, as per reports.
Several potential penalties have been mooted since the reported guilty verdict was delivered, including fines and transfer embargoes. More severe sanctions could result in City being stripped of their titles won between 2009 and 2018 - the timeframe during which the alleged breaches are believed to have occurred - alongside potential relegation from the Premier League or significant points deductions.
