Manchester City board members are said to face being forced to resign amid possible points deductions if they are found guilty of the 100+ charges brought against them by the Premier League.
Those alleged breaches relate to the league's financial rules plus a failure to cooperate with the investigation into them. Man City deny any wrongdoing, insisting they have a comprehensive body of irrefutable evidence supporting their position.
An independent commission reviewed the matter during a hearing between September and December last year. There is now an expectation that a verdict from that hearing will come imminently.
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Man City could face significant punishment if found guilty. According to football finance expert and University of Liverpool lecturer Kieran Maguire, who spoke to the ECHO on Monday afternoon, that may include several board members being forced to resign and possible points deductions.
Asked about when we might hear about potential punishments if the club are found guilty, Maguire said: "It will be intriguing because when we have seen commission reports historically, in the case of Nottingham Forest and Everton, both parties were given a copy of the verdict to allow them to effectively collect their thoughts and put out press releases to coincide with that of the Premier League."
"There has been sort of a, 'we're on opposite sides of the argument, but we're still going to act professionally'. I think there's been such a fallout from Manchester City and the Premier League that might not necessarily be the case.
"Having said that, the commission cannot be seen to be viewing one party above the other. So, one would presume they would have to release the conclusion of the report simultaneously.
"What I've heard from a few parties already, and I've spoken to a few people today (Monday), is that it could be that there will be a conclusion as to whether Manchester City are guilty or not guilty of individual charges. But the punishment might not be included in this initial report.
"I think that, in my personal view, is that it creates more problems than solutions. It will just lead to a social media meltdown. It will create expectations.
Maguire then said on possible punishments: "If Manchester City are only found guilty of non-cooperation with the Premier League investigation I think we can expect something in line with what we saw from UEFA. In that, it will be a fiscal penalty.
"If Manchester City are found guilty of misrepresentation, which is effectively corporate fraud, then I think we have to be looking at a significant points deduction. On the basis that, again, if you read the commission reports for Nottingham Forest and Everton, they stressed that they were minor breaches of the rules.
Everton were deduced ten - reduced to six on appeal - and two points for breaching Premier League profitability and sustainability rules (PSR) in successive seasons. Forest, meanwhile, were docked four points.
Maguire continued: "What Manchester City is being accused of is effectively fraud over a longer period of time. So, therefore, the punishment has to be scaled appropriately."
"I don't think they can relegate the club as such, because this is a Premier League punishment. The Premier League doesn't control the EFL, so therefore, the commission would have to set a tariff - a punishment that will be so severe in terms of points deductions that it would effectively guarantee relegation. But they can't do what we saw with Rangers and the SPFL and relegate them to League Two or similar."
Away from the pitch, Maguire acknowledged: "It brings the governance of Manchester City into disrepute; if found guilty, I don't see how the board of directors can survive because, again, looking for precedent, if you look to see what has happened in Serie A and Juventus. When Juventus were found guilty of effectively misrepresentation a couple of years ago - this was when they said players had taken big pay cuts during covid, and that wasn't the case, the board of directors had to resign.
"If people from Manchester City have made statements, sworn statements to the commission and it's been concluded that those are misrepresentations, then the board of Man City has to be replaced." However, City being found not guilty could lead to such changes in the Premier League.
"Similarly, if Man City win this case, where does that leave the board of the Premier League?" Maguire questioned. "The costs of the case are in excess of £50 million to the Premier League, so, therefore, it must be similar for Manchester City.
"Those costs have to be borne by the individual clubs. Now I know some clubs in the Premier League who don't give a toss about this.
"They say 'we're not competing with Manchester City as far as we're concerned; all of this pressure is coming from a small number of elite clubs who are competing for Champions League places. We're in a different position; they're going to be very angry.'
"It would put pressure on senior personnel at the head of the Premier League in terms of their ability to continue in their posts." The league could also face financial repercussions.
"We did see the Premier League try to claim some costs back from Everton when it charged them last year," Maguire revealed. "Everton said, 'OK, we'll go along with that,' but when they took a look at the size of the bill from the Premier League - it was charging ridiculous amounts of money, so it got that scaled back. If City are successful, expect them to go for the jugular."
