The Citizens were charged by the Premier League in February 2023 with breaking financial rules between 2009 and 2018 following a four-year investigation.
Man City, who have emphatically denied the charges against them, are alleged to have failed to provide accurate financial information relating to sponsorship income, revenue and operating costs, as well as full details of players' wages over a six-season period and the earnings of former manager Roberto Mancini during his time at the club.
Pep Guardiola's side have also been accused by the Premier League of failing to comply with UEFA's Financial Fair Play (FFP) rules during a five-year period - before the Catalan's arrival in 2016 - and are said to have not fully co-operated with the Premier League's investigation.
Man City had a two-year UEFA ban overturned at the Court of Arbitration for Sport (CAS) in July 2020, while the club were fined £49m in 2014 for breaking UEFA's FFP rules, of which £32m was suspended.
When could Man City's 115 verdict be announced?
Man City's hearing into their 115 charges - dubbed by some as 'the sport's trial of the century' - began on September 16 and was held at the International Dispute Resolution Centre near St Paul's in London.
The 12-week trial concluded on December 6 and the independent commission will now consider all the evidence before making their final decision.
This process is expected to take several months due to the volume of information to be reviewed and the amount of charges levelled against Man City.
According to multiple reports, a decision from the independent commission is unlikely to be made public until spring 2025.
However, a separate report from The Mirror claims that a final decision is not likely to be made until after the current season concludes at the end of May.
Guardiola to stay at Man City even if they are relegated
Sanctions in the event of a guilty verdict could range from heavy fines, points deductions or even expulsion from multiple competitions including the Premier League - a competition that Man City have won in each of the last four seasons and eight times in total.
Guardiola, who recently signed a two-year contract extension at the Etihad Stadium, has insisted that he will remain Man City manager even if the club are relegated as a result of a guilty verdict.
Man City currently sit fourth in the Premier League table and their hopes of retaining the title are hanging by a thread, as they are eight points behind leaders Liverpool, who have a game in hand.
Written by
Oliver Thomas