It now seems remarkably prescient. Back in 2008, 15 years before Manchester City faced allegations of financial misconduct, supporters began singing “City’s going down with a billion in the bank” to the melody of Yellow Submarine. The chant emerged after former Thai prime minister Thaksin Shinawatra’s 15-month spell as owner ended suddenly when assets worth more than £1bn were frozen. Although Sheikh Mansour of the UAE then arrived to rescue the club, City were still in serious trouble.
Despite the enormous wealth behind the new ownership, City had fallen into the relegation places by December. Supporters call this Cityitis: the club’s habit of creating chaos just when everything appears to be improving. City ultimately collected trophy after trophy, yet fans continued singing about relegation with a billion in the bank. The chant became stronger when the financial fair play inquiry began in 2018, and louder still after more than 100 charges were announced in 2023. Now that the consequences of the club’s alleged conduct may finally be approaching, the song is likely to be delivered with even greater defiance.
This is, after all, a club whose supporters often direct their mockery inward. They proudly turn perceived shortcomings into songs. Among them are “Empty seats at home”, sung to the melody of the Beautiful South’s Rotterdam, and “Is This the Etihad?”, performed to La donna è mobile from Verdi’s Rigoletto whenever an away stadium falls unusually silent.
This is neither an attempt to provoke fate nor an exercise in arrogant irony about failing to sell every ticket despite sustained success. It is simply an acknowledgment that City will always remain City, that Cityitis never entirely disappears and that, regardless of the ownership’s vast resources, the club will eventually find a characteristically dramatic way to stumble.
That moment may now have arrived. The final outcome and any possible punishment remain unknown. In a recent interview, Wayne Rooney suggested that City could receive a 60-point deduction, a penalty that would make avoiding relegation almost impossible.
The consequences could be even more severe. City might be stripped of all eight trophies secured during the period from 2009-10 to 2017-18 covered by the alleged fair play breaches. Those honours include three Premier League championships and the historic 2017-18 campaign in which the team reached 100 points. Such a punishment would, in my view, be excessive and could damage the competition itself.
But would an adverse judgment necessarily be unfair? City will insist that it is, because the club does not want financial regulations obstructing its international ambitions. Its legal representatives will argue the same position because that is their role, while many supporters will naturally defend their team. Even so, some City fans believe the evidence leaves the club with little room for complaint.
Everton and Nottingham Forest have already lost points for less serious violations, so allowing City to escape punishment would be deeply embarrassing and would reinforce the belief that wealthy clubs follow a different set of rules. City has spent the past three years using legal challenges in an effort to defeat the case, but those attempts have not succeeded. The dispute is unlikely to finish here, however, because the club is expected to appeal.
The alleged conduct surrounding the case has been extremely troubling. The charges include claims that City failed to submit complete and current financial information, hid details about salaries and bonuses, overstated sponsorship income and did not cooperate fully or provide requested documents during the inquiry. The club has relied heavily on legal tactics, conduct that feels far removed from its original identity. City began in 1880 as St Mark’s (West Gorton), established by members of St Mark’s Church of England to support humanitarian work and social improvement in a deprived part of east Manchester.
What comes next? City could be stripped of trophies and may well be relegated. The leading players would probably leave, forcing supporters to say ha det bra to Erling Haaland, the remarkable Nordic goalscorer, although he might be tempted to stay and discover how many goals he could score in a Championship campaign. After that, the rebuilding process would begin.
Even in the most severe scenario, with every affected trophy removed, City would still retain the extraordinary achievements of later years: the unprecedented domestic quadruple in 2018-19 and the 2022-23 treble that included the Champions League. Those seasons carried little suggestion of controversy. City were simply exceptionally wealthy, expertly operated and guided by Pep Guardiola, widely regarded as the finest manager in the game.
There could also be several benefits arising from the humiliation, with the most important being the enforcement of sporting justice. Beyond that, City might return to the Championship, a division associated with cherished memories such as the “We’ve got Kevin Keegan, 100 goals a season” chant from 24 years ago. League One would revive memories of another era, including the playoff triumph over Gillingham that remains a defining moment for many long-serving supporters. Even League Two would offer the excitement of unfamiliar territory and the hope that improvement could only follow.
Ticket prices might fall, making matches at the Etihad affordable to ordinary supporters again. Lower costs could help fill the stadium, while fans might rediscover the value of Wembley appearances and trophy victories. Guardiola would already have departed, removing the fear of losing him, and the experience could teach the club greater humility instead of leaving everyone disappointed after a season containing “only” the League Cup and FA Cup.
Perhaps the greatest opportunity would be the need to replace lavish spending with imagination. Rather than opening the chequebook whenever a world-class player becomes available, City might have to identify more inventive solutions. Shaun Goater, the celebrated Bermudan goalscorer, recently left his coaching position with Aston Villa Women. He is only 56, never depended entirely on speed and may even be available.
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