Manchester City are reported to have held talks over a financial settlement with the Premier League prior to the revelation of their guilty verdict, only to have seen negotiations collapse over their continued proclamations of innocence.
City have appealed the ruling of an independent panel that found them guilty of the vast majority of the 115 financial charges made against them by the Premier League. Punishments could range from fines and point deductions to being stripped of trophies and even expelled from the division.