Manchester City could be forced into selling some of their biggest names below normal market value if relegation becomes part of their punishment for serious financial-rule breaches.
No sanction has yet been imposed, and City are preparing an appeal after an independent Premier League commission found the club guilty of serious breaches covering 2009/10 to 2017/18.
The club continue to reject the findings, but the possibility of relegation has inevitably raised questions about what would happen to an elite, high-wage squad.
Keith Wyness predicts discount on Man City players
Speaking to Football Insider, former Everton chief executive Keith Wyness believes City would struggle to command full market value if relegation forced them to sell.
“You’re absolutely right that there wouldn’t be release clauses, but this proves the point once again, and I learned the lesson the hard way that there should always be relegation clauses in contracts,” he said.
“We know that there are deep resources within the ownership. However, they’ll also have to look at this pretty professionally and look at it as a business situation. And they will see enormous wage pressure.”
Wyness expects buyers to take advantage of City’s weakened negotiating position.
“So I would expect there to be about a 25 to 30 per cent discount over what the market value of these players would be.”
He also believes City would protect themselves through sell-on percentages, buy-back agreements and other clauses rather than simply accepting poor deals.
The theory is particularly relevant because Reuters reports that relegation remains among the possible punishments, alongside fines and points deductions, although City’s appeal could keep the case running for a long time.
Relegation would completely change City’s position
City’s owners can absorb substantial financial losses, but that does not mean keeping Champions League-level salaries in the Championship would make sporting or commercial sense.
The bigger problem would be leverage.
If several senior players made it clear they wanted top-flight and European football, rival clubs would know City needed solutions. That naturally creates downward pressure on fees, even without formal relegation clauses.
A 30% discount is only Wyness’ estimate, not a confirmed City policy, but the principle is reasonable. A forced seller rarely controls the market.
City’s hierarchy currently appear focused on overturning the ruling rather than planning for relegation, with chief executive Ferran Soriano publicly maintaining that the club expects to clear its name.
If the appeal fails, however, squad management could become almost as difficult as the legal battle itself.
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