Andy Burnham says he would be really concerned if Manchester City owners Abu Dhabi United Group were forced out following the club's guilty verdict on 114 of 115 Premier League financial charges.
The independent commission found City arranged sham contracts to disguise secret funding exceeding £830million between the 2009-10 and 2017-18 seasons.
City plan to appeal the verdict and have until October 2 to submit their official appeal against the findings.
Burnham acknowledged the ownership's contribution to building modern Manchester and the Etihad campus during his time as mayor.
The prime minister refused to intervene in the ongoing independent legal process despite his previous links to the club's hierarchy.
He compared the situation to Everton's six-point deduction for profit and sustainability rule breaches which he felt was handled unfairly.
The Independent Football Regulator has now turned attention to the suitability of Sheikh Mansour and the Abu Dhabi United Group ownership.
Burnham insisted it would be wrong to jump to conclusions before studying all the detail of the contested case.
The argument doing the rounds in Manchester is whether political figures should publicly back owners facing existential regulatory threats.
City maintain their innocence while the appeal process threatens to extend well beyond the current deadline.
Key facts:
- 114 of 115 charges proven by independent commission
- Secret funding exceeding £830million over nine-year period
- Appeal deadline: October 2
- Charges cover 2009-10 to 2017-18 seasons
- Independent Football Regulator reviewing ownership suitability
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Source: Mirror
