Manchester City's long-awaited hearing into 115 breaches of Premier League rules has concluded, according to reports on Monday, but a verdict is not expected until 2025.
The Daily Mail reported that closing arguments in the case, which opened on September 16 at London's International Dispute Resolution Centre, were made to an independent panel on Friday.
City strongly deny any wrongdoing, but face severe sanctions if found guilty, including potentially being relegated from the Premier League.
Everton and Nottingham Forest suffered points deductions last season for breaches of the league's profit and sustainability rules.
The English champions stand accused of 80 breaches of financial rules between 2009 and 2018, plus a further 35 of failing to cooperate with a Premier League investigation.
Since a 2008 takeover from Sheikh Mansour, a member of the United Arab Emirates royal family, City have been transformed into the dominant force in English football.
They have won eight of the last 13 Premier League titles, including a record four consecutive league crowns in the past four seasons.
City also lifted the Champions League for the first time in 2023.
Those achievements have been clouded in controversy, with opposing fans often making reference to the charges City face.
However, the club have always protested their innocence and vowed to clear their name.
The Premier League brought the charges in February 2023 but there has been a long wait for the case to proceed before an independent commission.
City stand accused of failing to provide accurate financial information between 2009 and 2018, including revenue from sponsors and salary details of managers and players.
Other charges relate to breaches of both Uefa and the Premier League's financial sustainability regulations.
Even if City are found guilty of some or all of the charges by the commission, the club would likely appeal that decision, which would further delay the imposition of any sanctions.
On the field, Pep Guardiola's men are going through an lean spell with just one win from their last nine games in all competitions.