Manchester City face second probe as regulators circle after 114-charge guilty verdict

Manchester City’s guilty verdict on 114 counts of breaching Premier League financial rules has opened the door to a second wave of investigations that could threaten the club’s ownership and its place in English football altogether.

An independent commission found City guilty of artificially inflating revenue by more than £900 million between 2009 and 2018, allowing the club to spend beyond the limits set by Premier League regulations. The club’s appeal against the verdict is pending, as is the determination of sanctions — which could range from heavy fines and points deductions to title strippings or outright expulsion from the league.

While City’s owners have promised to present what they describe as “irrefutable evidence” not surfaced during the original proceedings, several external bodies have now moved to examine the scandal independently.

The Financial Reporting Council has confirmed in the House of Commons that it has assumed control of “regular consideration” of the matter, with a preliminary investigation already underway. Separately, the Greater Manchester Combined Authority is reported to be probing loans of taxpayers’ money made to firms owned by Sheikh Mansour, City’s Abu Dhabi-based owner.

Perhaps the most consequential scrutiny comes from England’s newly established Independent Football Regulator, created under the Football Governance Act 2025. The body holds the power to remove club owners from English football entirely — a sanction that sits beyond the Premier League’s own disciplinary reach.

David Kogan, chair of the Independent Football Regulator, indicated the body would not rush to judgement but made clear it retains ultimate authority over whether City’s current ownership is permitted to continue.

“We will look at the individuals who’ve given evidence, we will look at the individuals involved with the club and we will take a judgement call,” Kogan said. “I am not going to get pushed into making any judgement on this until we’ve seen all of those questions being answered and then we will have to decide whether we’re going to mount our own investigation.”

The convergence of multiple investigations means City’s legal and regulatory exposure extends well beyond the Premier League process, with the club’s owners now facing scrutiny from bodies whose powers and timelines operate independently of the appeal currently in progress.