Liverpool, Arsenal on high alert over stunning raid for one of Man City’s best as FFP sanctions hit home

Rayan Cherki would not be short of offers if Manchester City are forced to cash in on the French talent in the wake of their guilty verdict for breaches of financial regulations, and while sources suggest two Premier League rivals Liverpool and Arsenal would be keen, the pair are far from alone.

Cherki has emerged as one of City’s most creative talents since joining from Lyon in the summer of 2025. The 23-year-old France international, signed for an initial fee of around £30m (€35m, $40m) on a contract until 2030, has shown flashes of genuine quality in his time at the Etihad.

But should City face relegation as a consequence of their ongoing financial case, the creative midfielder would become one of the most sought-after players on the market.

It’s worth noting that at this point that City are insistent they have done nothing wrong. And while a damning Premier League statement has been met with full force by the club, TEAMtalk can also exclusively reveal on Wednesday that the club are planning to take their fight all the way to the High Court.

However, attention is now starting to turn to the star names City could lose if the worst-case scenario unfolds…

Premier League interest in Cherki predates his move to Manchester. Liverpool were among the strongest admirers, with the Merseyside club travelling to meet the player in person before City secured his signature.

Arsenal have also long been keen on the Frenchman’s technical ability and vision between the lines. Both clubs would almost certainly revive their interest in the event of a forced sale, viewing him as an ideal addition to their attacking ranks.

The Premier League pair, though, would not be the only ones keen, and sources understand that several big European sides would also be keen in the event that the talented French star is forced to leave…

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Three Euro heavyweights would be keen on Cherki

Across Europe, the picture is equally clear. Paris Saint-Germain have maintained long-standing interest in Cherki and would be expected to make a serious move should the opportunity arise.

The chance to bring one of France’s brightest talents back to Ligue 1 holds obvious appeal for the Parisian club, and they are noted by sources as one of the most likely destinations for Cherki were he to leave.

Real Madrid and Barcelona have also monitored his progress in recent weeks, particularly as City’s financial situation has developed, while Bayern Munich have been linked in some reports, though as we revealed earlier, manager Vincent Kompany is also a huge fan of Phil Foden should the homegrown City man also be forced out.

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Despite all that, City remain in a strong contractual position and would demand a significant fee for a player still only 23.

Yet the unique circumstances of potential relegation could alter the dynamics hugely with the financial toll City may be about to take.

Cherki’s combination of creativity, youth and international pedigree ensures that any available window would attract the attention of Europe’s elite.

For now, the situation remains speculative, but the list of admirers is already well established, and he would have no issue finding an elite side that wants him if a heartbreaking sale was forced on the under-fire Cityzens.