The Premier League's case against Manchester City, who are accused of 115 alleged financial breaches, has concluded. The final arguments were heard at London's International Dispute Resolution Centre on Friday, marking the end of the hearing that began on September 16.
Defending Premier League champions City stand accused of multiple Financial Fair Play rule breaches and failing to co-operate with the subsequent investigation. They deny all charges and remain confident of exoneration.
However, if found guilty by the three-person panel, they could face financial penalties, a points deduction or even relegation. The panel have now retired to consider the substantial evidence presented.
Deliberations will take time and even once a verdict is returned, an appeal is likely to extend the case until the end of next season. Given the sheer number of alleged breaches and the evidence put forward by the lawyers for the Premier League and City, it is expected that the initial verdict could take months to arrive.
The accusations span a nine-year period from 2009 to 2018. City boss Pep Guardiola has openly welcomed the investigation into the club's financial conduct, expressing his desire for a resolution to the lingering question marks against their recent successes.
In September, when asked if the squad had discussed the allegations, Guardiola responded: "No. We're not lawyers. Erling [Haaland] is not a lawyer, no.
"We didn't talk about that. What's going to happen, the independent panel, and we're going to accept the sentence. I'm happy it's starting on Monday. I know there will be more rumours, new specialists about the sentences. We're going to see.
"I know what people are looking forward to, what they expect, I know, what I read for many years. Everybody is innocent until guilt is proven. So we'll see."
City's challenge to the Premier League's stance took a hit after changes to the associated party transaction rules were ratified by a 16-4 vote last month.
Since Sheikh Mansour's game-changing acquisition in 2008, City have clinched an impressive haul of eight Premier League titles, three FA Cups, six League Cups, along with international glory including the Champions League, UEFA Super Cup, and FIFA Club World Cup.
However, all these accolades are currently overshadowed by suspicion, a cloud that can only be dispelled by clearing their name before the independent commission.