Manchester City have been found guilty of all but one of their 115 charges for breaches of the Premier League's financial regulations, and the fallout has been immediate.
Four clubs — Arsenal, Liverpool, Tottenham, and Manchester United — are reportedly seeking legal action against City for compensation, citing loss of earnings from missing out on European finishes and league titles. The potential bill could exceed £200 million in prize money, sponsorship bonuses, and income from European competitions.
The verdict, announced during the international break, has been described as the biggest breakthrough since the initial charges were brought in February 2023. City face a punishment that could range from a points deduction to being stripped of their titles and even expulsion from the Premier League.
Everton's £35.1 million payment to Burnley in 2021-22, after breaching Profitability and Sustainability Rules, set a precedent that now looms large. That case was deemed to have given Everton a sporting advantage, and the same logic could be applied here.
City are expected to appeal the ruling, meaning any legal action from rival clubs will have to wait until the process is complete. But that hasn't stopped them from piling on, and more are likely to follow as the case goes on.
City remain insistent on their innocence. For now, the club is left to prepare for the resumption of domestic football with the threat of further sanctions hanging over them.