Man City Firesale: 11 stars who could leave after verdict
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KEY TAKEAWAYS
- Erling Haaland is Manchester City's biggest asset at around £169m.
- 11 major City players have a combined Transfermarkt value of £762.5m.
- The verdict could trigger exits, but no firesale has been confirmed.
An independent commission found City guilty on 114 of 115 charges relating to alleged financial rule breaches, covering the period from 2009 to 2018. City strongly deny wrongdoing and lodged their appeal on 1 October. Any sporting sanction will be dealt with separately, and the process remains ongoing.
That distinction matters.
There is currently no order forcing City to sell their players, and no major first-team departure has been announced as a direct consequence of the verdict. But if the appeal fails and City eventually face a severe sporting punishment, particularly one involving relegation, the situation could change dramatically.
That is where the transfer market becomes interesting.
Transfermarkt currently values City's squad at around £1.12 billion. Their latest player valuations were updated on 3 June 2026, meaning these are current market values rather than post-verdict transfer fees.
So, which City players could attract the biggest offers, and who could realistically decide that their future lies elsewhere?
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1. Erling Haaland - £169.4m
Erling Haaland is the obvious headline name.He is currently the most valuable player in the Premier League and the most valuable asset in City's squad. His current City contract runs until 2034.
That contract gives City significant protection, but it does not eliminate the possibility of a transfer if the club suffers an extreme sporting or financial shock.
Real Madrid, Barcelona and Paris Saint-Germain are among the elite clubs that would have the financial power to explore a deal, whilst Arsenal have also been linked with a potential move in the event of relegation.
Exit risk: High
Haaland would be the ultimate prize in any hypothetical City firesale.
2. Rayan Cherki - £76.2m
Rayan Cherki has rapidly become one of City's most valuable attacking players.His City contract currently runs to 2030, but the 23-year-old is particularly vulnerable in a severe relegation scenario because of his age, technical quality and resale value.
Football Insider reported in October that Cherki could push for a move if City were relegated, with major European clubs monitoring his situation.
Exit risk: High
Cherki is exactly the type of player rival clubs would target before his value rises even further.
3. Antoine Semenyo - £67.8m
Antoine Semenyo is a particularly interesting case because City only brought him in during January 2026, with the winger under contract until 2031.That long contract gives City leverage, so selling him cheaply would make little sporting or financial sense under normal circumstances.
But a club facing a major revenue shock could view almost any elite asset differently.
Semenyo's pace, versatility and Premier League experience would make him one of the easier City players to move should the club ever need to generate significant income.
Exit risk: Medium
His contract strengthens City's position, but his marketability makes him an obvious target.
4. Jérémy Doku £63.5m
Jérémy Doku is another player whose market value would attract plenty of attention.However, there is an important reason not to overstate his exit chances: Doku signed a new five-year contract in August 2026, extending his stay at City until 2031. He also publicly spoke about looking forward to working under Enzo Maresca.
That makes a Doku departure less likely in ordinary circumstances.
The calculation changes only if the sporting consequences become severe enough.
Exit risk: Medium-Low
Doku is valuable, but City's recent decision to tie him down long term suggests they see him as part of the next era.
5. Elliot Anderson - £63.5m
Elliot Anderson is one of the more unusual names on this list.He joined City from Nottingham Forest in a record-breaking £116 million fee for a central midfielder in 2026.
That means selling Anderson quickly would potentially create a huge accounting and sporting headache.
Yet it also makes him an extremely valuable asset.
Exit risk: Medium
A player bought for such a huge fee is not an obvious firesale candidate - unless the situation becomes extreme.
6. Phil Foden - £59.3m
Phil Foden's story is more complicated.Unlike many players on this list, Foden has spent his entire professional career at City and remains one of the club's most important homegrown players. More importantly, he signed a new contract in July 2026 that keeps him at the Etihad until 2030, with an option for another year.
That makes a voluntary departure considerably less straightforward.
Foden belongs in this conversation not because a transfer is imminent, but because a severe sanction could test even the strongest player-club relationships.
Exit risk: Medium
His contract and lifelong connection to City make him less obvious than Haaland, but the situation could change rapidly.
7. JoÅ¡ko Gvardiol - £59.3m
Joško Gvardiol remains one of the most valuable young defenders in Europe.There is already evidence of outside interest. Madrid have been linked with the Croatia international, whilst reports earlier in 2026 suggested his representatives had explored a possible move.
There is, however, another major complication.
Gvardiol signed a fresh five-year City contract in July, extending his stay until 2031. He subsequently said he wanted to continue achieving more at the club.
Exit risk: Medium
The interest is real enough to make him a headline name, but the new contract gives City significant leverage.
8. Marc Guéhi - £59.3m
Marc Guéhi is another England international who could attract Premier League interest.His value is particularly relevant because the defender is already established at international level and would be highly attractive to clubs looking for a proven Premier League centre-back.
Exit risk: Medium
A serious sanction would make Guéhi a logical target for wealthy Premier League rivals.
9. Nico O'Reilly - £59.3m
Nico O'Reilly may be one of the most fascinating names on the list.At only 21, he has developed into a major first-team player and an England international, whilst his ability to operate in midfield and at left-back significantly increases his value.
O'Reilly's local connection could make him less likely to leave than an overseas signing. He is also tied to City until 2030.
Exit risk: Medium-Low
From a footballing perspective, City would have little reason to sell one of their most valuable young academy products unless circumstances became extreme.
10. Rúben Dias - £46.6m
Rúben Dias is no longer among the very youngest members of the squad, but his experience makes him a particularly attractive potential signing.His City contract running until 2029.
For a club entering a rebuild, an experienced defender can be difficult to replace. Conversely, for a club trying to raise funds, an established international with a strong reputation can be easier to monetise than an unproven youngster.
Exit risk: Medium
Dias is more likely to become a target if City are forced into a major restructuring than if they simply face a financial penalty.
11. Gianluigi Donnarumma - £38.1m
Gianluigi Donnarumma joined City from Paris Saint-Germain in September 2025 and is contracted until 2030, with an option for another year.Goalkeepers of Donnarumma's calibre rarely become available, so any major disruption at City could attract attention from clubs looking for an elite long-term No.1.
At the same time, his position makes him less likely to be the first player City would sell compared with a world-class forward such as Haaland.
Exit risk: Medium-Low
A serious firesale would put him on the market, but he is unlikely to be the first domino.
How much could Manchester City raise?
The estimated market values of these 11 players add up to approximately £762.5 million.Manchester City's most valuable potential exits
| Player | Estimated market value | Exit risk |
|---|---|---|
| Erling Haaland | £169.4m | High |
| Rayan Cherki | £76.2m | High |
| Antoine Semenyo | £67.8m | Medium |
| Jérémy Doku | £63.5m | Medium-Low |
| Elliot Anderson | £63.5m | Medium |
| Phil Foden | £59.3m | Medium |
| JoÅ¡ko Gvardiol | £59.3m | Medium |
| Marc Guéhi | £59.3m | Medium |
| Nico O'Reilly | £59.3m | Medium-Low |
| Rúben Dias | £46.6m | Medium |
| Gianluigi Donnarumma | £38.1m | Medium-Low |
| Total | £762.5m |
A club under pressure could be forced to sell below market value. Equally, competition between several wealthy clubs could push a transfer fee above the estimated valuation.
The £762.5 million figure should therefore be presented as the theoretical combined market value of 11 major City assets, rather than the amount the Citizens would definitely receive.
Which Manchester City players are most likely to leave?
The clearest candidates are Haaland and Cherki.They combine youth or peak-age value with elite technical ability and enormous potential interest from Europe's biggest clubs.
Haaland is the obvious headline story. At £169.4 million, he accounts for more than one-fifth of the combined value of the 11 players listed above.
Foden, Gvardiol and Doku are different cases. All remain highly valuable, but their recent long-term commitments to City make an immediate exit less obvious.
The same applies to O'Reilly. Selling an academy-developed player of his age and potential would make little sense unless City were dealing with an extraordinary financial or sporting crisis.
That is why the eventual sanction matters more than the verdict itself.
The biggest variable is the sanction
City are not currently conducting a firesale.The club have appealed the verdict, and no sanction requiring player sales has been imposed.
A fine or relatively limited sporting punishment might have little effect on the squad.
A transfer restriction could make replacing departing players harder, but would not automatically trigger a mass exodus.
Relegation would be different.
Champions League football is one of the strongest financial and sporting incentives available to elite players. If City were removed from Europe's top competition or dropped out of the Premier League, players could reassess their futures.
That is when clubs such as Madrid, Barcelona, PSG and wealthy Premier League rivals could start circling.
For now, though, a firesale remains a scenario rather than a reality.
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Manchester City Firesale: The verdict
City are not currently selling off their stars.But the potential is obvious.
Haaland alone carries an estimated market value of £169.4 million. Add Cherki, Semenyo, Doku, Anderson, Foden, Gvardiol, Guéhi, O'Reilly, Dias and Donnarumma, and the theoretical value reaches approximately £762.5 million.
Whether any of that value actually enters City's bank account depends almost entirely on what happens next.
The club have denied wrongdoing and appealed the verdict. No forced player sales have been announced.
But if the worst-case sporting consequences eventually arrive, City's biggest battle may not simply be keeping their place in the Premier League.
It could be keeping their best players.
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