Liverpool are arguably the side who can feel most aggrieved after Manchester City were found guilty of 114 charges for breaching the Premier League's financial regulations and their subsequent failure to co-operate with the investigation. The Reds have been City's leading domestic rivals over the past decade, and while they have won two Premier League titles and every major honour, their returns are admittedly second to the Abu Dhabi-backed outfit.
City's trophy haul during investigation period
The investigation into City's financial dealings covers the period between 2009 and 2018, with the club inevitably benefitting from the knock-on in the years that have followed. Since 2009, they have won 22 major trophies, including eight Premier League titles, the Champions League and 11 domestic cups.
In contrast, Liverpool have won nine major trophies over the past 17 years, with such a return including two Premier League titles, the Champions League and four domestic cups. Seven of City's trophies were won between 2009 and 2018, with their dominance in English football reaching new heights under Pep Guardiola in the eight years since.
Liverpool's near misses and Klopp's first final
Liverpool infamously lost two Premier League titles to Man City in 2018/19 and 2021/22 by just one point, despite recording over 90 points. Meanwhile, if not for Guardiola's men, they would have recorded an Invincibles season in the English top-flight in 2018/19 and claimed a Premier League and Champions League double.
But it is already well-documented that Liverpool missed out on one Premier League title to Man City during the period under investigation. The Reds finished just short of being crowned English champions in 2013/14, missing out by two points to Manuel Pellegrini's side.
That is not the only honour Liverpool missed out on to Man City during such a period, as Jurgen Klopp was also denied his first trophy as Reds manager. He led Liverpool to his first final with the club just four months into his Anfield reign, with Man City their opponents in the League Cup final in 2016.
Penalty shootout heartbreak at Wembley
Klopp's side lost on penalties after a 1-1 draw at Wembley. Philippe Coutinho had cancelled out Fernandinho's opener, only to miss his subsequent spot-kick along with Lucas Leiva and Adam Lallana as the Reds fell to a 3-1 penalty loss.
As a result, City won their final trophy of the pre-Guardiola era and Klopp was made to wait for his first Liverpool honour. Prior to lifting the Champions League in 2019, he also had to contend with accusations of being labelled a 'serial loser' after suffering six straight defeats in major finals, with the Reds' League Cup loss in 2016 his fourth in such a run.
While it would be a surprise if City were stripped of the honours they won between 2009 and 2018, with such titles given to the runners-up instead, there are 18 Liverpool players who suffered disappointment that day at Wembley who now have every right to feel that little bit more aggrieved at having lost.
