Gary Neville believes the only appropriate punishment for Man City is the removal of the club's current owners, and while he is disappointed by Man City's financial violations and the damage they have caused to the Premier League's reputation, he also believes the league's rich history will help it overcome this crisis.

An independent panel ruled that Man City had seriously breached the Premier League's financial regulations. The panel found that between the 2009-10 and 2017-18 seasons, the club had created "inflated" contracts and "concealed operational details" to artificially boost its revenue by £830 million.

Man City is expected to appeal, with the deadline set for Friday, October 2. Potential sanctions include substantial fines, points deductions, expulsion from the Premier League, or the stripping of previously won titles.

However, Neville believes the only punishment proportionate to these violations is the removal of the club's current owners from the Premier League; he fears the allegations will have serious and far-reaching consequences for English football.

"Manchester City Football Club itself will get through this because Man City, as a club, has a much longer history than these owners do, and the club will continue to exist after they're gone. It has a deep historical foundation."

"Points deductions, fines, transfer bans, stripping of titles—not awarding titles to other teams, but simply removing Man City's honours—these are all significant penalties. But the truly fair, most powerful and severe deterrent would be a change of ownership.

"If I were Man City, that would be the only consequence that would truly threaten me. And if you're a Man City supporter wanting to preserve your current investment, that's what you should be most concerned about."

"But in football, when assessing the severity of consequences, what could be worse than large-scale, systematic financial doping like this? I'm not pleased about it.

"I'm disappointed; the whole thing is deeply disturbing. I'm a Manchester United fan, Carragher supports Liverpool; Roy Keane and Ian Wright played for Manchester United and Arsenal; Jill Scott played for Man City.

"Understanding the full extent of this makes me shudder. Over the past 25 years, Italian football has suffered immeasurable damage from the Calciopoli scandal. We've spoken about Juventus before, and even then we felt something was wrong.

"I'm not saying the Premier League will repeat Italy's mistakes. But we've always taken pride in the Premier League's high standards, in setting industry benchmarks, and we've always felt that corruption, fraud, financial irregularities, match-fixing and refereeing scandals were issues that only existed in other leagues.

"But now these things are happening in our country, in our league. The Premier League is our nation's brightest calling card to the world.

"Wherever you go in the world, mention Liverpool, Manchester, Arsenal, and when people ask where you're from, the Premier League is what they talk about most. And now our reputation is being dragged through the mud by this."

Neville's comments came after former Greater Manchester Mayor Andy Burnham expressed concern about potentially losing the current investors if Man City is found guilty, while also praising the City Football Group's investment in Manchester.

When asked whether there were concerns about investors selling the club, Burnham said: "I would be very concerned if we lost them.

"They have been important partners in building a modern Manchester and have truly transformed Man City into a world-class football team."

On Wednesday, there was a new development: Man City's principal sponsor, Etihad Airways, issued a statement saying they are reviewing their legal response following the independent panel's ruling.

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