Manchester City's guilty verdict on 114 breaches of Premier League rules, confirmed officially last Tuesday, is only the end of the beginning, with the appeals process and sanctions process to follow.
City continue to vehemently protest their innocence, and so any idea of a settlement is a fantasy right now. However, what comes after all this is potentially even more complicated because the ramifications of City's guilt stretch far and wide, as the purposeful inflation and misstatement of financial revenue by more than £900 million over a nine-year period (2009 to 2018) creates all sorts of alternative timelines.
What did these crimes cost other teams? City's rivals could have won titles, avoided relegation, qualified for the Champions League or signed many of those players who ended up at City. It adds up to potentially tens of millions in merit payments, and every club affected might look to find grounds to pursue compensation. The possibilities are almost endless, especially considering that prior to City's takeover by Abu Dhabi United Group in 2008, their best Premier League finish was eighth in 2004-05.
The independent commission set up to hear the case between City and the Premier League did not include compensation for wronged parties within the scope of its judgment. In September 2024, only four clubs instructed lawyers to inform City that they had reserved their right to seek compensation should they be found guilty: Arsenal, Tottenham, Liverpool and Manchester United. This was to ensure they had options beyond the six-year statute of limitations from the time the allegations were first published by Der Spiegel until the Premier League's verdict.
Sources have suggested to ESPN that City's aggressive denials hint at a major fight should any compensation case by brought, and it is debatable how many clubs would have the stomach for such a prolonged battle.
- Ogden: How Man City player exodus would warp transfer market - Dawson: Man City players, staff react to guilty verdict - Olley: Legal explainer of Man City's guilty verdict, next steps, more
All clubs will likely wait until the sanction is confirmed before deciding if, and how, to pursue a compensation case against City. ESPN reports on the mood at these four clubs and the reasons they all might yet seek individual retribution against City.
Arsenal
You could forgive former Arsenal manager Arsene Wenger for taking City's wrongdoing more personally than most.