Manchester City owners face suitability probe after guilty verdict on £900m financial fraud

England’s Independent Football Regulator has confirmed it will consider investigating the suitability of Manchester City’s ownership after the club was found guilty of breaching Premier League financial rules involving £900 million worth of allegedly inflated contracts and “widespread” deception.

IFR chair David Kogan said the commission’s decision “raises serious issues” and that the regulator possesses powers to assess the suitability of owners, directors and executives — powers it will deploy “where appropriate” when there is “clear evidence of wrongdoing by individuals.” City chairman Khaldoon Al Mubarak and the wider Abu Dhabi ownership group now face direct scrutiny under that framework.

Kogan added that the IFR would await further developments given that proceedings between Manchester City and the Premier League remain ongoing. City have until Friday to lodge an appeal, which is widely expected, though no fixed timescale exists for how long that process will take. Rival Premier League clubs are pushing for the case to be resolved before the end of the season, but there is no guarantee of that outcome.

Among the potential punishments under consideration is expulsion from the Premier League, which would see City enter the EFL at League Two or below. That outcome would require an extraordinary vote with 15 clubs in favour. A more likely scenario, according to sources familiar with the matter, is a substantial points deduction that would result in relegation while keeping the club within the football pyramid — though City would then be subject to EFL spending rules, raising serious questions about their ability to retain high-earning players.

A lengthy transfer ban is also among the sanctions being discussed, which would severely limit the club’s capacity to rebuild their squad regardless of which division they compete in.

The legal fallout extends beyond the regulator. Arsenal, Tottenham, Liverpool and Manchester United have already lodged legal notices reserving the right to sue for damages. Lawyers believe the nature of the findings — detailed across a 40-page document — could open the door for additional clubs to pursue claims, with arguments around the statute of limitations potentially giving those cases a viable path forward. That financial exposure could compound the threat to the club’s long-term stability.