Reports emerged on Friday that Manchester City had been found guilty on all but one of 115 charges related to inaccurate financial reporting and failing to cooperate.

History, in football and in business, suggests that compensation arrives late, it’s smaller than the loss, it’s fiercely contested, and it never restores the position that was lost. Titles are the exception, and that’s why the question of whether they’re stripped may matter more than any damages claim.