Almost two years on from the Premier League's bombshell announcement Manchester City were being charged with 115 counts of alleged financial wrongdoing, a legal hearing has ended. Last week, the first Friday in December, the closing arguments were completed.
It leaves a three-man independent panel to decide just what the verdict will be. Outside of the courtroom, many have already cast their aspersions.
Pep Guardiola himself has admitted that he believes City's rivals - including Arsenal, Chelsea and Tottenham - are keen to see the reigning champions and winners in five of the past six league seasons punished. Should they be found guilty of any allegations, let alone all of the charges - which actually rise closer to 130 rather than the widely reported 115 after an initial reporting error.) - they can face serious sanctions.
It is thought that the rulebook would allow for not only huge monetary punishment via fines, but also registration bans, points deductions, relegation and the retrospective stripping of titles. Never before has a club faced such an array of possible retribution for what, in effect, would be cheating.
Unlike with the now-infamous and much-maligned profitability and sustainability rules (PSRs), which Everton and Nottingham Forest have notably been hit with breaking, City are accused of pulling the wool over the eyes of the league. It must be stressed that is something they strongly deny and have done throughout the process.
Soon enough - with an appeal likely to follow any decision coming in 2025 - the world will find out how the panel sees things. What, though, do football.london writers think of the situation?
Tom Coley
Honestly, who knows? If City are guilty, then this process has a long way to go, because they are going to appeal and fight back hard. It all feels a little premature to be talking of punishments just yet, especially as things won't be sorted in time for implementation this season.
And what is justifiable punishment anyway? Would stripping the titles really change how people look back? In many senses the judgement has already been made and City are 'corrupt'. It's not like Arsenal and Liverpool - the two sides to fall short the most in the era of Guardiola dominance - can go back and celebrate their achievements, it won't change that.
Perhaps that is why relegation is the most appropriate. It will put a time punishment on City, who would then have to work their way back up, as well as being a strong statement from the Premier League that what has happened is not acceptable. Fines and even a sizeable points deduction can be paid off or worked off. A relegation is significant, though, it lasts.
Amie Wilson
This case seems to have dragged on forever, so it's nice to see some progress made - even if there is now more of a wait to be had, especially with possible appeals in the future. If, and it's a big if, City are found guilty of most of the charges, then I believe the punishment should be significant - but not as a fine, as rich club owners will be able to just take that on the chin and move on.
Punishments for both Everton and Forest for being found guilty of just one charge was a points deduction. That could be the way to go, but if City are found guilty of over 100, a huge deduction would have to be given, which would perhaps most likely see them relegated from the Premier League.
Taking into account other cases, then it's probably the fairest thing to do. Of course, if found guilty, City are likely to get lawsuits from those clubs who were competing with them for those seasons in question - which is likely to drag the situation on further.
Whatever happens, I think the most important thing to do is to get the situation sorted before the end of the current Premier League season. The cloud has been hanging over City - and other Premier League clubs for that matter - for far too long, and a bit of certainty in the summer would be nice ahead of a fresh start in the 2025/26 campaign.
Isaac Johnson
An initial verdict may come in January, but that almost certainly will be far from the end of the story. Whatever their outcome, whoever comes off worse will want to appeal it - both have too much to lose.
And so, we might not reach an ultimate end-point until after the conclusion of the season, but that is, perhaps, unsurprising. If City are found guilty of severe breaches then you can be sure they will appeal any punishment(s) handed to them - further prolonging it all.
I think there are wider ramifications, though. The government bill, for an independent regulator, is hurtling down the tracks and this case only reinforces the support for one, particularly if the Premier League loses the battle.
Many inside the game do not want it out of fear that control will be lost and growth hampered. But with so much internal squabbling going on right now within the top-flight - and this case being one of many legal fights - there is little to suggest the regulator will be stopped.
Manchester City are facing up to 100-plus financial charges from the Premier League.
Manchester City are facing up to 100-plus financial charges from the Premier League. (Image: Getty Images)
James Quinlan
It is impossible for absolute certain to tell as in the past there has been nothing quite on this scale to judge it off. My worry would be were any punishments dealt, would they stick or would they be reduced as Everton's was, or perhaps even rescinded?
This case has dragged on long enough and we just want a conclusive ending. Imagine that City are sent down the divisions then successfully appeal, that will just create such a huge mess - more so than the one we find ourselves in now.
I think they deserve it if found guilty, without any question. Points deductions, fines, they can bounce back from those and titles stripped, that bruises their pride but it is not like it puts Arsenal or Liverpool on a higher pedestal - those seasons are just tainted. So that would be my verdict, even though relegation just seems like it's going to be impossible to enforce, but prove me wrong!
Kieran King
City's dominance at the top of English football could be coming to an end. They are on a run of just one win in 10 games across all competitions and it comes off the back-drop of their independent hearing - scheduled to resolve the 115 alleged breaches of Financial Fair Play rules - coming to an end.
Despite last Friday signalling the final day of a 12-week hearing in London, the outcome is still not expected to be heard for a significant period of time. But when that result does emerge, I believe City should be handed the most severe punishment if they are found guilty - and that is relegation.
There is a lot more to it than just 'sending them to the National League' - which has been mentioned - but I do think that the Premier League need to take the significant action, and put a stamp down on breaching financial rules. By doing that, City would need to be relegated, at least to the Championship.
As much as that is what I would do, I also think relegation would be almost impossible to enforce and, therefore, heavy fines, maybe a transfer ban and points deduction for the start of next season could be alternatives.