Manchester City's leadership reportedly 'reject an explanation' surrounding a 2017 dinner meeting between Liverpool, Manchester United and Arsenal, deepening suspicions amongst supporters that a 'Red Cartel' has been working together to orchestrate their downfall. The former Premier League champions are facing severe sanctions after being found guilty of 114 financial charges, but are currently appealing the ruling.

United, Arsenal and Liverpool were three of only four clubs that instructed legal representatives to notify City that they had reserved their right to pursue compensation should they be found guilty back in 2024. They are also understood to be among the Premier League clubs advocating that City receive a substantial punishment should their appeal prove unsuccessful.

And there is now mounting fury among City supporters over the perceived involvement of the three clubs.

For those City fans who believe their club has fallen victim to a 'Red Cartel' of opponents conspiring to undermine their side, a photograph captured by a diner at a New York restaurant co-owned by Hollywood actor Robert De Niro represents Exhibit A in their case.

It was captured in October 2017, which precedes the Premier League levelling 115 charges against City for breaching the league's financial regulations in February 2023, but falls within the 2009-18 timeframe covered by the investigation that resulted in them being found guilty on 114 counts last month.

Liverpool owner John W. Henry, Ed Woodward, Joel and Avram Glazer, and Ivan Gazidis, Arsenal's chief executive at the time, were photographed at a dinner seven days before a Premier League vote on future broadcast revenue.

Tottenham, City and Chelsea were absent from the gathering, though this could be attributed to the fact that the three clubs present were American-owned, while City (Abu Dhabi), Chelsea (Russian) and Spurs (British) were not.

According to ESPN, that explanation has never satisfied City, with CEO Ferran Soriano referencing a 'conspiracy theory' at the summit of English football as he dismissed the commission's ruling. The remarks were said to be aimed as much at the hierarchies of Liverpool, Manchester United and Arsenal as at the Premier League itself.

ESPN reported that while the club has declined to comment on the alleged "cartel", sources have confirmed that those at the very top of the club harbour no doubt about their rivals' intentions to cause them difficulties.

A source with connections to City was quoted as saying: "From day one, United, Arsenal and Liverpool have been terrified of losing their ability to dominate everything from the Premier League to the transfer market.

"Chelsea was already a problem for them under Roman Abramovich, but Sheikh Mansour came along [in 2008] and changed everything again, and the red clubs have been in a battle against City ever since."

The narrative surrounding the 'Red Cartel' will not be helped by the assertions from Liverpool owner Henry and former Arsenal manager Arsene Wenger, who openly criticised City's financial practices in 2011, six years before the gathering took place.

Wenger called upon UEFA to scrutinise City and accused them of manipulating the regulations. He said: "We must have done a bad deal. It raises the real question about the credibility of the financial fair play. That is what this is all about. They give us the message that they can get around it by doing what they want.

"It means financial fair play will not come in. It is as simple as that. I can understand how they do it but it raises the real question. The difficulty and the credibility of the financial fair play is at stake.

"Plus, if the financial fair play is to have a chance, the sponsorship has to be at the market price. It cannot be doubled, tripled or quadrupled because that means it is better that we don't do it and we leave everybody free. That can be defended as well, but if they bring the rules in they have to be respected."

Then, active on social media, the Liverpool chief said: "A club's best player has to be worth at least 10% of your naming rights. Mr. Wenger says boldly what everyone thinks."

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The trio of top-flight clubs found themselves locked in on-field competition with City throughout the nine-year spell between 2009 and 2018, vying for Premier League titles. City emerged victorious during that phase, with their dominance extending further as Pep Guardiola's team secured four consecutive league wins.

The Telegraph revealed earlier this month that United, Liverpool, Arsenal and Tottenham received the guilty verdict at an early stage and had previously issued City with legal notification of their entitlement to pursue compensation.

City have appealed the Premier League's verdict, believing they possess 'irrefutable evidence' supporting their contention that they ought to have been cleared of any misconduct.

The commission handling appeals must deliver a decision within 12 weeks, according to Premier League regulations, setting a deadline of January 21.

The consequences of City's conduct remain uncertain, with the possibility of unprecedented points penalties, relegations and potentially dropping out of the English Football League (EFL).