Manchester City could potentially recoup millions from the if they come out on top in the 115 charges verdict. Although, it's unlikely they'll be able to counter-sue or pursue other parties even with a win.

There's been plenty of speculation about the potential repercussions for if they're found guilty of the serious allegations levelled against them by the Premier League, in a case that has been ongoing for over two years. A three-man panel reviewed evidence from both parties in late-2024, and a decision is anticipated shortly.

Suggestions of relegation, expulsion from the league, or a hefty points deduction have all been floated, much to the delight of fans from clubs who've felt the sting of City's dominance over the past decade. However, given City's steadfast insistence on their innocence from the get-go, and their successful defence at the Court of Arbitration for Sport when UEFA brought similar charges in 2020, it's worth considering what might happen if the club triumphs once more.

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The most probable benefit of a verdict largely in City's favour would be the recovery of most of the costs associated with their legal representation for the hearing. The substantial fees commanded by Lord David Pannick KC, who has led the defence since the charges were first announced, have been widely reported.

That bill, and the rest, may end up sitting with the Premier League - even if they are successful in proving City failed to co-operate with their investigation. Whichever side is judged to have lost more than they won is facing a hefty financial cost as a consequence.

"Whilst we know from the published Everton costs hearing that there is no restriction on the Independent Commission in terms of costs, it is likely to be asked to, and will, treat the proceedings akin to High Court commercial litigation," football finance guru Stefan Borson told .

"In doing so, the general rule is that it is fair for the unsuccessful party to pay the successful party's costs. This is especially so where a party fails to prove serious allegations of fraud where courts generally award the highest percentage of recovery (known as indemnity costs). Likewise, a finding of fraud against City is likely to give rise to the Premier League getting the vast majority of its costs from City."

However, with City facing multiple allegations, the situation is not straightforward. "The complexity can arise where, as in City's case, there is a range of allegations and where the decision may not be binary. In those cases, the courts (and therefore the IC) will look, as a matter of substance and reality, who has 'won'," Borson added.

"Then it considers whether, despite one party having won in the significant sense, there are any matters which the other party has succeeded on which took a significant amount of additional time and resource to contest. This might include the co-operation charges.

"From there it is for the party claiming costs to show that its costs claimed are reasonable and proportionate except if one side is awarded the indemnity costs as could be possible in this case. In summary, if City were to successfully defend all the substantive allegations regardless of the cooperation outcome, they could expect to recover 80-90% of their costs."

The Premier League issued a warning to clubs in September, stating that they had racked up £45million in various legal expenses for the 2023/24 season, a figure reported by The Times to have been anticipated to be closer to £8m.

Since then, in addition to the 115 hearings, they have suffered a defeat at the hands of City over Associated Party Transaction rules deemed unlawful, and will be liable for the majority of the costs associated with those legal representations. Any further financial blows would be unwelcome news for the league and its members, as every penny spent on City's legal fees will reduce the funds available from the central pot of money.

However, while the club may seek compensation for what they perceive as damage to their reputation should they manage to clear their name, it's almost certain that they will not receive any financial recompense for this. "Despite the immense frustration which will accompany a successful verdict, City are unlikely to be able to mount any case for compensation against the Premier League or other clubs," Borson said.

"Only a finding by the Independent Commission suggesting that the case was brought in bad faith (which simply is not going to happen) would give rise to potential for a claim for damages beyond costs. Even a hint that the case had elements of vexatiousness would not assist City on this. In short, costs recovery will be the best City can do."