An appeal from City is expected to be a formality.
City's legal team is being led by Lord Pannick KC, who is reported to charge £5,000 an hour for his services. He helped City overturn their two-year European ban in 2020.
However, considering we are already eight years into this process - and two years beyond the start of the hearing itself - it is impossible to speculate when this could come to an end.
Until now, the case has been watertight, with no media leaks from any of the parties involved.
This is just the latest chapter.
However, while the commission's judgement can be directly appealed against, it is not possible for City to take it to Cas.
What titles did City win and who was affected?
City won the Premier League three times during the period in question.
That includes their first in the Premier League era in 2011-12, plus 2013-14 and 2017-18.
They won the FA Cup in 2011, and the EFL Cup three times - 2013-14, 2015-16 and 2017-18.
Since their 2008 takeover by ADUG, City have won eight league titles, and multiple cups including the Champions League as part of a Treble in 2023.
If the commission choses to hand City's titles to other clubs, this is who could benefit:
Premier League
2011-12:
Manchester United
2013-14:
Liverpool
2017-18: Manchester United
FA Cup
2010-11: Stoke City
EFL Cup
2013-14:
Sunderland
2015-16:
Liverpool
2017-18:
Arsenal
Could affected clubs claim compensation from City?
Premier League clubs have already sought legal advice over whether they would have a case for financial compensation as a result of City's breaches.
Clubs who had their league positions impacted by City's offences could potentially claim a loss of chance to win potential honours.
These would need to be individually heard by an independent commission.
