Last month, the Premier League's chief executive, Richard Masters, told BBC Sport that a verdict on the charges facing Manchester City had "taken longer than expected".

"It's hugely complex. The hearing took 12 weeks," added Masters.

Meanwhile, his counterpart at Arsenal, Richard Garlick, said all teams in the Premier League needed "clarity" on the situation.

"It's not something that I can speculate on," said Garlick. "I just hope that there is a solution very quickly."

Kieran Maguire
Football finance expert on BBC 5 Live

Following the acquisition of Chelsea by Roman Abramovich and then Manchester City by Sheikh Mansour, we've seen similar, of course, with Paris Saint-Germain. The football authorities in both Europe and the Premier League itself didn't want somebody to be able to buy a title. They wanted some form of more level playing field. And that's why these rules were introduced.

They are complicated. They are messy. They have created a cottage industry in their own rights, but they have helped to reduce the ability of individuals or organisations to simply spend and not worry about the consequences.

BBC News

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It has been more than three years since Manchester City were charged.

Since then clubs including Everton and Nottingham Forest have been charged with breaching Profit and Sustainability Rules (PSR) and received point deductions.

So why has City's case taken so much longer to resolve?

In short, the magnitude of the City case is vast compared to that of Everton and Forest. Essentially, they both stood accused of making losses greater than £150m over the course of a three-year period. Both were cut-and-dry cases to which their was little defence.

Meanwhile, City face over 115 charges covering several areas of financial regulations spanning a nine-year period. Some of the allegations, such as the Premier League's assertion that City disguised equity funding as sponsorship contributions, are far more complicated than simply spending too much.

Kieran Maguire
Football finance expert on BBC News

We can broadly divide [what Man City are being accused of] in to three elements; first of all, an accusation of not complying with the Premier League investigation in to the club's finances.

Secondly, disguising money from the owners - which was effectively a gift from the owners - as sponsorship income. The reason that is important is because under the Premier League rules, clubs were only allowed to lose £115m over three years. By disguising money as sponsorship income, it helps to reduce the losses.

The third accusation is that individuals were being paid off-book. Effectively, an employee - that could be a manager or player - would have a contract to play for Manchester City, but there has also been accusations that they were also being paid by Abu Dhabi organisations which are indirectly or directly connected to the club owner. Therefore, this would reduce the costs and reduce the losses incurred.

Andy Swiss
Sports news correspondent on BBC Radio 5 Live

This has been one of football's longest running sagas.

We're in uncharted territory. We need to emphasise if Manchester City have been found guilty of these charges - they have always strongly denied these charges.

The disciplinary panel has limitless powers. Would Manchester City get points deductions? Would they be kicked out of the Premier League? Would they get a huge fine? We simply don't know.

We are waiting for confirmation from either Manchester City or the Premier League that there has been an outcome to these charges.

Shamoon Hafez
Manchester City reporter

Is the biggest cloud that has been lingering over Manchester City and the Premier League for over three years about to clear?

Well, not quite.

City say in a statement that the "process remains ongoing" but it is understood in the event of a defeat in the case, City will appeal against the findings.

We don't know how long this process would take.

In terms of sanctions, Everton and Nottingham Forest have been docked points in the past for breaching financial rules - would City receive a similar punishment?

Or could it be more severe such being stripped of some of the league titles they have won or even relegation to the Football League?

There are plenty of questions that will come up and this may drag on for a while yet.

Sami Mokbel
BBC Sport Senior football correspondent

Other Premier League clubs are believed to have been informed about the decision in the Manchester City case.

Image source, Getty Images

Manchester United

Former Manchester United defender Rio Ferdinand has wasted no time having his say following reports that Manchester City have been found guilty of nearly all 115 financial charges levelled against them.

Ferdinand was part of the Manchester United team that finished second to Manchester City in the 2011-12 Premier League season.

Writing on X on Friday afternoon, Ferdinand said: "Another Premier League medal to be added to the cabinet."

Image source, Getty Images

Kieran Maguire
Football finance expert on BBC News

I think the ramifications will be significant. It is very much a two-staged process. If we recall when Chelsea were found guilty of a significant number of charges by both the Premier League and the FA, their sanction was a fine, and that was something the club were happy to absorb.

I would imagine if Manchester City have been found guilty - and we are still waiting for conformation of that - they will be delighted if they are just given a fine. I expect that other clubs and most commentators anticipate some form of points deduction, if not worse.

Then, we move in to another phase, because we have recently seen that Everton have been fined £35m by a claim from Burnley. There could be a long series of litigation from clubs that feel they have been disadvantaged during the period when Manchester City were in breach of the rules.

Dan Roan
BBC sports editor

Manchester City deny wrongdoing and insist they are innocent of all of these charges - but if they to be were to be found guilty on the most serious ones, we could be looking at a points dedication serious enough to relegate them or even perhaps expulsion from the Premier League.

Such a fate would stain their many achievements in recent years and would lead to great uncertainty over the future of the players. It may even spark compensation claims from rival clubs.

Equally, there would be questions asked of the Premier League if they lose and City prevail. It has already cost tens of millions of pounds from both sides in legal fees. Amid various other regulatory issues, this is the case the Premier League will feel they simply have to win.

BBC Radio 5 Live

Man City fan David Mooney from the Blue Moon podcast speaking to BBC Radio 5 Live: "It's really strange. We just don't know anything at the moment about where this is going to go.

"On the one hand you've got this great enjoyment from the team you have supported all your life winning unprecedented success and playing football like we've never seen before, but having in the back of your mind that everybody thinks we have cheated to do this and everybody thinks this is illegitimate and that it hasn't been fairly achieved."

In February 2023 Manchester City were charged with more than 100 breaches of the Premier League's financial rules following a four-year investigation.

The charges relate to the period 2009-2018.

The Premier League claimed City breached rules requiring the club to provide "accurate financial information that gives a true and fair view of the club's financial position".

City were referred to an independent commission, and a 10-week behind-closed-doors hearing began in September 2024.

City strongly denied all charges and said their case was supported by a "comprehensive body of irrefutable evidence".

Image source, Getty Images

Sami Mokbel
BBC Sport Senior football correspondent

Manchester City have been found guilty of breaking the majority of the 115 financial rules they were accused of breaching, sources have told BBC Sport.

The Athletic is reporting that the sanctions have not been decided but that the independent panel has reached its decision, finding them guilty of all but one count.

Sources have told BBC Sport a decision has been made in the case, and City have been found guilty of the majority of breaches.

The Premier League declined to comment.

Asked if the report was correct, City did not comment either way.

Instead they released a statement saying that the “Premier League process remains ongoing with significant elements to be completed, and subject to strict confidentiality”.

“The club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence,” it added.

BBC Sport has also been told that, in the event of a defeat, Manchester City will appeal against the findings.

The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality. As such Manchester City FC’s position remains consistent with the Club’s statement of February 2023.

The Club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence.

November 2018: Football Leaks allegations emerge with German newspaper Der Spiegel publishing claims Man City breached FFP rules

March 2019: Uefa launches a formal investigation off the back of Der Spiegel’s findings

May 2019: City criticise the investigation and launch appeal process

November 2019: The Court of Arbitration for Sport (Cas) deems City’s appeal inadmissible

February 2020: Uefa announces a two-year ban for City from European competitions and a 30m euro fine for the club

July 2020: City’s European ban overturned after Cas appeal

July 2021: City lose a jurisdiction ruling which allows the media to report the Premier League is continuing to investigate the champions for alleged financial breaches

April 2022: Der Spiegel publishes a fresh report claiming the Premier League has been investigating the club for three years, providing detailed claims

February 2023: Premier League charges City with 115 financial breaches

September 2024: Start of 10-week hearing between the Premier League and Man City on the 115 charges.

February 2025: Then-City manager Pep Guardiola said the club expected to learn the verdict "within one month".

2025: Verdict expected.

Image source, Getty Images

In total, City were charged with 115 breaches of Premier League regulations.

The 115 charges have been broken down to five different categories.

• 54x Failure to provide accurate financial information 2009-10 to 2017-18.

• 14x Failure to provide accurate details for player and manager payments from 2009-10 to 2017-18.

• 5x Failure to comply with Uefa's rules including Financial Fair Play (FFP) 2013-14 to 2017-18.

• 7x Breaching Premier League's PSR rules 2015-16 to 2017-18.

• 35x Failure to co-operate with Premier League investigations December 2018 - Feb 2023.

Manchester City say the inquiry into allegations they breached 115 financial regulations "remains ongoing" amid a report they have been found guilty of almost of all the charges.

The Athletic is reporting that the sanctions have not been decided but that the independent panel has reached its decision.

Asked if the report was correct, City did not comment either way.

Instead they released a statement saying that the “Premier League process remains ongoing with significant elements to be completed, and subject to strict confidentiality”.

“The club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence,” it added.

A separate source has told BBC Sport a decision has been made in the case.

BBC Sport has also been told that, in the event of a defeat, Manchester City will appeal against the findings.

The Premier League declined to comment.

Image source, Getty Images