Revealed: Liverpool could be set for mega pay-day if Man City are found guilty in 115-charge FFP case

City stand accused of not providing accurate financial information and failing to cooperate with investigations that covered a nine-season period between 2009 and 2018. The Blues have always maintained their innocence, denying any wrongdoing on their part, and continue to battle behind the scenes in a bid to clear their name.

An independent panel trawled through all of the evidence, while listening to arguments from all sides of a protracted debate, before seeing proceedings at the International Dispute Resolution Centre wrapped up late in 2024. A final judgement is still pending, leaving everybody hanging on a ruling that may have far reaching consequences.

City remain confident of avoiding the harshest of punishments - having seen points deductions, transfer embargoes and expulsion from the English top-flight speculated on - but are still waiting to discover where they stand. It could be that huge compensation claims are made by rival outfits if the Blues are considered to have breached the rules.

Everton recently settled a case with Leeds United regarding lost revenue after being docked points themselves in a Profit & Sustainability Rules (PSR) case. They finished above Leeds in 2021-22 but were found to have stepped outside the financial threshold that has been put in place when it comes to monetary matters at Premier League clubs.

That case could set a precedent for City and Co. It is being suggested that Liverpool’s owners, FSG, would be prepared to incur hefty legal costs if it meant recuperating an even larger fee from City regarding funds that they missed out on as a result of the Blues failing to adhere with FFP guidelines.

Football finance expert Kieran Maguire has told TBR Football: “As far as Liverpool are concerned, the legal bill is the cost of doing business. They see themselves as one of the clubs who will have been significantly disadvantaged should Man City be found guilty. If we take into account the settlement between Everton and Leeds United, that could be significant precedent.

"But that is if City are found guilty – and that is a big if. And although you wouldn't expect them to say any different, all the noises I am getting from Manchester are very confident. If it's going to cost Liverpool £5m but they could potentially get much more if City are found guilty... They will have effectively worked it out on an insurance basis. It might be a short-term pain, long-term gain scenario. But the costs have certainly got out of control. Other costs have gone through the roof too, such as utilities and administration at club level.”

Premier League chief executive Richard Masters told Sky Sports when asked about City’s FFP case: “My frustration is irrelevant. I just have to wait. Legal processes rarely take less time than anticipated. We have to be patient.

“I can't talk about it. Our rules are very specific, they say we can't talk about things as the charges are made and not until a decision has been published. We still await that decision, and I can't talk about the timing and speculate when that may be.

“What I can tell you about is the system and how it works: it's an independent judiciary. Once the allegations and charges have been put forward, they go before an independent panel which is independently selected. And they are then in charge of the process and its timings.

“They hear the case, they decide the outcome. We have no influence over that or its timing. And that's right from an independent point of view, you have independent people making those decisions. And we just have to wait.”

It has been a case of business as usual for City in 2025-26, on the back of more summer spending in the transfer market. Liverpool also invested heavily in the last window, with both clubs chasing down more domestic and continental honours.