According to Reuters, Manchester City are expected to appeal after reports that an independent commission found the club guilty of 114 of the 115 Premier League financial-rule charges brought against them. However, no punishment has been announced, meaning the reported ruling is not the end of the long-running case.

According to Manchester City, the Premier League process remains ongoing, with significant elements still to be completed under strict confidentiality. The club has continued to deny wrongdoing and has maintained that its position remains consistent with its response to the charges brought in 2023.

According to Reuters, the next major step is expected to be City's appeal against the reported findings. This means the club could continue challenging the case before any final sporting or financial consequences are imposed.

According to reports published after the decision emerged, Manchester City could face a range of possible sanctions if the findings ultimately stand. These include a financial penalty, a points deduction or, in the most serious scenario discussed in reporting, expulsion from the Premier League.

The exact punishment cannot yet be stated because no sanction has been announced. The scale of any penalty would therefore depend on the commission's eventual decision and the outcome of any appeal process.

Another major issue is whether previous Premier League results could be affected. Manchester City won three league titles during the period covered by the historical financial allegations — 2011/12, 2013/14 and 2017/18 — but those titles remain officially City's unless a future disciplinary decision changes the record.

The case could also create a separate financial battle involving other Premier League clubs. According to reports attributed to BBC Sport and The Athletic's David Ornstein, several clubs have taken steps to preserve the possibility of seeking compensation for financial losses they believe may be connected to City's alleged breaches.

According to those reports, Arsenal, Liverpool, Manchester United and Tottenham Hotspur are among the clubs that have taken legal steps concerning potential claims. However, no club has publicly filed a compensation claim, and any such action is expected to depend heavily on the outcome of City's appeal.

The potential compensation could relate to money clubs believe they lost through league positions, Champions League qualification or other competition-related financial benefits. Such claims would have to establish the relevant losses and their connection to the issues decided in the Manchester City case.

For Manchester City, the immediate priority is therefore the legal process rather than the possibility of losing trophies. The club must first challenge the reported findings before the full consequences of the case become clear.

The situation could take months to resolve because an appeal would create another stage in the process. Until that process is completed and sanctions are formally announced, claims that City have already been relegated, stripped of titles or ordered to compensate rival clubs would be premature.

According to Reuters, Manchester City have consistently denied wrongdoing and are expected to appeal. The Premier League has also declined to comment publicly because the process remains confidential.

What happens next could therefore be more significant than the reported verdict itself: Manchester City's appeal, the eventual punishment, the possible impact on historical results and potential compensation claims from rival clubs could determine the final consequences of the case.