I had a quick look at the Deloittes 2024 Money League, some things of interest:
City have only the fifth highest commercial income in Europe, behind Madrid, Barcelona, Bayern and PSG. For a team that just won everything, that is pretty poor. Sack Berrada! But really, it beggars belief that City's deals have to be scrutinised so much when the commercial income isn't at all unusual.
Bayern have the highest commercial income, although the top five are all within 20 million of each other. You say it makes perfect sense that they should get far more. I say they would be hard pushed to find unrelated bids to support the valuation of each of their shareholder sponsorships.
Half of the top 15 clubs have commercial income : broadcast income ratios in the range 0.9 to 1.3, including City. The outliers are: Bayern with 2.1, making twice as much commercial income as they do broadcast income (!), Barcelona with 1.9 (but what they are doing with their accounts and the various levers is a mystery to me. I remember UEFA disallowed some of their reported income?); PSG with 1.6 for obvious reasons; and United and Juventus with "minor breaches" of 1.5 and 1.4. Juventus is interesting, though, because the other Italian clubs are well below 1 (ie they make less commercial income than they do broadcast income). United is interesting because they are cunts.
Anyway, my point is that City's commercial income isn't out of line with other clubs, taking into account the success of the club and the PL. Tottenham, Chelsea, Liverpool and Arsenal, for example, are all in the same range. If the PL spent less time analysing sponsorships uselessly, it could spend more of its time trying to maintain the league's popularity and growth to the benefit of everyone. Imho.