Manchester City have allegedly been found guilty of 114 breaches of Premier League financial regulations.
After a four-year investigation, it was revealed in February 2023 that Man City had been charged with 115 breaches of the relevant rules across a period spanning between 2009 and 2018.
However, at a time when the club continued to win silverware under Pep Guardiola, it remained unclear when there would be an outcome to the process that would determine whether the North-West club were guilty or would be cleared.
On Friday afternoon, The Athletic reported that Man City had been found guilty of all but one of the 115 charges.
At this point in time, sanctions that the club may face remain undecided, while there is every indication that Man City would appeal if the charges are confirmed in due course.
How have Man City reacted to 114 charges report?
Man City have reacted to the development by releasing a statement, saying: "The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality.
"As such Manchester City FC’s position remains consistent with the Club’s statement of February 2023.
"The Club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence."
The same report outlines that potential punishments are outlined in rule W.51 of the Premier League's rulebook.
A reprimand, fine, points deduction an expulsion from the Premier League are all viewed as possible outcomes.
During the period in question, Man City won Premier League titles in 2011-12, 2013-14 and 2017-18. It remains to be seen whether being stripped of those top-flight crowns is a realistic possibility.
Man City found guilty: What happens now?
As well as Man City stating that they view the process as "ongoing" and the Premier League refusing to comment, the relevant parties are essentially waiting for an official verdict to be released.
Given that such a major story has been broken via an unofficial route, the assumption is that a statement from the Premier League will follow at an appropriate time, albeit as soon as possible.
Both The Athletic and BBC Sport are reporting that Man City would appeal the 114 charges should, as expected, they be confirmed.
That would only extend the process and delay any sanctions being imposed on Man City. For how long, no-one knows.