Manchester City are said to be confident of ultimately winning their long-running legal battle with the Premier League, despite reportedly being found guilty over 114 out of the 115 counts of breaches of Financial Fair Play rules.
Abdukodir Khusanov is one of many Manchester City players who future at the club could be at risk in the event of a guilty verdict.
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Over three-and-a-half years on from when they were initially referred to an independent commission over alleged breaches of the Premier League's financial fair play rules across a nine-year period between 2009 and 2018, reliable quarters of the English press have indicated that a verdict in the case has now emerged.
The Athletic reported on Friday afternoon that Manchester City were found guilty on 114 of the 115 charges they faced, in what represents the most significant legal finding in the history of English football.
Throughout the investigation, City strenuously denied all 115 allegations, with hearings conducted by the independent commission understood to have taken place over a six-week period between September and December 2024.
The September 2026 verdict arrived nearly two years after those hearings concluded, following a prolonged period of deliberation by the panel. The club's public position throughout has been that the process remains confidential and ongoing, a line that was reiterated in a spokesperson statement issued at the time of the finding.
Despite the gravity of that verdict, new reporting from Telegraph Sport sheds light on the internal mood at Manchester City - and the club's confidence that the outcome of the wider process, including the appeals stage, will ultimately move in their favour.
Enzo Maresca's side sit top of the Premier League with five wins from five in the 2026/27 season, and the legal backdrop has not disrupted the on-pitch environment since the new manager took charge in the summer.
Manchester City have been found guilty of nearly every charge of breaches of the Premier League's financial fair play rules, according to a new report.cityxtra.co.ukMan City Verdict on 115 Charges Revealed as Premier League Hold Victory Belief
Manchester City have been found guilty of nearly every charge of breaches of the Premier League's financial fair play rules, according to a new report.
Report: Man City Believe One Unproven Charge Among Most Serious of the 115
As reported by Telegraph Sport, bosses at Manchester City are said to be 'calm' about the latest development despite how significant it appears.
While the independent panel found the club guilty on 114 of the 115 charges, the one charge that was not proven is said to be among the most serious of the allegations City faced - a detail that sources indicate is central to the club's confidence going forward.
City are said to believe they will win the argument in the end. Sources are cautioning, however, that it may still take up to another two to three years for the case to be fully resolved, meaning a definitive conclusion to proceedings is not expected until at least 2028 or 2029.
The report added that sources close to former Manchester City manager Pep Guardiola - who left his post in May - insist he is not privy to a verdict into the case.
The sanctions that will apply as a result of the guilty finding on 114 counts have not yet been decided, with the punishment stage representing a separate element of proceedings. The wider process - including any appeal City pursue - remains ongoing, with the club stating that proceedings are "subject to strict confidentiality".
What is the Wider Context of the Verdict?
The independent commission process that produced this verdict is separate from City's earlier battle with UEFA, in which the club successfully overturned a Champions League ban through the Court of Arbitration for Sport in 2020.
That precedent is understood to inform City's belief in the appeals process available to them here, having demonstrated a capacity to challenge adverse legal findings at the highest level.
City's response to the verdict has been measured in public, with the club declining to comment beyond confirming the process remains ongoing and confidential.
The internal picture, as described by Telegraph Sport's sources, is one of confidence rather than concern - grounded, in part, in the significance of the single charge that the panel did not prove.
The resolution of a case that has cast a long shadow over English football since City were first charged in February 2023 remains years away.
Whatever the outcome of the sanctions hearing and any subsequent appeals, the process has established a legal and regulatory precedent that will shape how the Premier League governs financial conduct for years to come - following the charging of Everton on far less serious grounds in early 2023.
The sanctions phase of the independent commission process represents the next significant legal development, ahead of what is expected to be a lengthy appeals process before any final resolution is reached.