Manchester City have found themselves in heaps of trouble, with an independent commission having found the club guilty on 114 of the 115 charges relating to alleged breaches of the Premier League’s financial regulations.

The bombshell verdict, first reported by The Athletic’s David Ornstein, threatens to cast a long shadow over City’s trophy-laden era, though sanctions are yet to be decided and the club are expected to appeal.

And the fallout could have significant ramifications across Europe, including for Real Madrid.

According to SPORT , Real Madrid and other European giants are keeping a close eye on City’s legal process, wary of the possibility that a severe sanction could open the door to some of their players.

Man City’s crisis could potentially open the door for Real Madrid to go after Haaland. (Photo by Justin Setterfield/Getty Images)

The potential punishments range from a fine to a significant points deduction, with the most extreme scenarios even affecting City’s place in the Premier League.

Should the outcome seriously impact the project at the Etihad, the transfer market could suddenly present unexpected opportunities.

City’s squad contains several players Florentino Perez has admired over the years.