It's a bullshit word dreamed up to justify hypocrisy when it's being pointed out. So these journalists can carry on applying double standards and ignore things about the clubs they refuse to scrutinise or criticise: "Ah yes that happened/that story broke and I can't provide you with my coverage of that. To prove these matters are important to me... but that's whataboutery, so back on my high horse I go, this is the most important thing in football and I'm outraged!"
Just say "it's still a concern", or "it was still a fuckup".
Was it though? Firstly we don't know enough about what the deal entailed. It's been suspended pending further investigation, what if they provide all the paperwork needed to prove they exist? I've seen some argue that City were going to be paying them, that's why it was classified as a "regional partnership" and not a commercial agreement(or whatever the correct term is that escapes me). Even if that's not the case, no details were given about how much it would be worth. Some might say it doesn't matter but you can bet it would matter to them, if it was a high amount, rather than a small amount.
Lastly, in pointing this out before City took a penny from them, to be used in their accounts(if that was going to be the case), they've saved City from being at the mercy of UEFA and the FA/PL. I can't imagine 3key could have been paying City much for such small operation in it's infancy(6figures, if that. The ramifications, had UEFA or the FA/PL tried to use it, to prove City were falsifying their accounts, would have been huge though.
If the club was that dodgy, which I don't think it is, there's only so much that deal could have been worth without it being suspicious on it's own. So even from that position, surely these journalists can see it wouldn't be worth the risk for a small regional deal, for a club currently under investigation with the PL(officially anyway).
Even if City were just lacking due diligence and completely innocent of any fraud, it would be a hard position to defend, taking money from a bogus company. It would be funny, if this was a setup by the cartel and they've(the sleuths) inadvertently thwarted their plan to stitch City up. That would be akin to a boxer spiking another boxers water with a banned substance before a fight he doesn't want or after a fight he lost, City need to be more vigilant.