I've spoken to a few friends who support other clubs about sportswashing as a result of this. It's been helpful to clarify what I think, really, as I feel they are conflating a whole lot of related but disconnected issues:
City cooking the books: I strongly feel that if we are shown to have broken the rules in a major way, it's right we should be punished. But that may takes years and City are being judged guilty until proven innocent, which is unfair
"Dirty" money in football: my view is that most money in football is dirty to some extent, because most big corporations are basically willing to act immorally if it advantages them. But when pushed, yes, I do feel quite uncomfortable about investment into City from a regime that has a dodgy human rights record.
Financial governance: strongly feel that city is a v well run club, especially vs the shower at the Swamp.
Big money bestows unfair advantages in football: Yes, of course money buys success, and that sucks. I totally get that fans get frustrated when other clubs hit the jackpot and they don't. But I can't recall a time when the dominant teams weren't the ones who were also financially dominant, and exploited that advantage to the hilt. It's the reality, sadly. Personally, would prefer a more even playing field, American franchise approach, but can't see that ever happening.
PL/UEFA moral grandstanding: UEFA and the PL don't actually care about *where* money comes from and whether it's ethical; They are uninterested in responsible ownership (ADUG has been a million times better for the city of Manchester than the Glazers); they are uninterested in independent regulation of the game; they are uninterested in fans' experience; BUT they suddenly claim the moral high ground when the big teams' CL qualification is threatened by new money being pumped into old clubs. UEFA and the PL claiming to be defenders of some kind of sense of fair play is a complete joke.
So that's the web of issues that kind of overlap for me here, and I suspect for other fans, too. I think it's only the first being investigated, but many of us struggle to keep these these separate, so it all becomes one big, unhelpful argument.