For the last week or so this case jumps 10 pages overnight, someone then says "what's happened?" and the answer is "nothing."
Which made me think of several other things that didn't happen, that at least at the beginning of the process many thought would happen.
What's clear, for instance, is that the outcome to all of this will be decided by the as-yet-unnamed panel. To put the same point another way, there is not going to be any kind of last-minute plea bargain, settlement, compromise, call it what you will. This one has gone all the way.
That might have come as a surprise to many who commented on the charges at the beginning of the process. There were lots of people speculating that some shady deal might be done involving a substantial fine and a modest points deduction, but no stripping of titles or relegation-guaranteeing deductions.
Bearing in mind the massive stakes on either side, those predictions of some sort of settlement seemed highly plausible. The early media headlines involved such phrases as "City fight for Premier League survival" and "scandal" (even before a word of evidence had been heard). For the Premier League, too, this was high-stakes litigation. The bringing of such a massive number of charges over such a prolonged period of alleged wrongdoing makes them look vindictive and amateurish if they cannot make at least a substantial majority of them stick. As Simon Mullock pointed out, Richard Masters' position seems utterly untenable if the charges are substantially dismissed.
To say nothing of the massive costs burden likely to fall on the losing party.
So what inferences can be drawn from the fact that no deal has been reached?
It seems to me it is one of three things. First, it could be a sign of City's supreme confidence in their position. This would not be unprecedented: it has been widely rumoured that Ceferin himself came to the Etihad to broker a deal in relation to the UEFA FFP charges, well before UEFA imposed its initial swingeing punishment. City, if the rumours are to be believed, turned it down flat. Likewise, in this case, the absence of a deal might pint to supreme confidence on City's part.
The second possibility is that the PL are equally confident: but even if they were confident of a result, it would strike me as surprising that no deal has been done. If you are prosecuting a case such as this, even if the evidence seems strong there are still many reasons why you might want to offer a deal that involves taking a bird in the hand. Offer a lower punishment, take the certainty of a conviction as opposed to the uncertainty of a trial. And City, if such a deal had been offered in circumstances where the evidence was effectively unanswerable, would have been foolish not to take the deal.
One thing we know about all this is that City's directors are not fools.
Which leads to the third possibility, that the PL recognises that it's case is weak, but ploughs on regardless, even though defeat is inevitable. Why would the PL do that? One possibility is that the clubs who are widely suspected of making this happen in the first place do not want a settlement, even if the victory they crave is unlikely. Many have suggested that the process is the punishment. That view is not inconsistent with the PL dragging its case to a tribunal only to receive the mother of all drubbings.
Another thought that circulated widely at the time the charges were announced, related to the first point, was that the Government would step in. Accusing some very senior figures within the Abu Dhabi government of fraud over a 9 year period was not something that was likely to be received with equanimity in Abu Dhabi itself. We know the government stepped in to put the PL under pressure to allow the Saudi takeover of Newcastle, and we know the charges have been discussed at high level between the foreign office and our embassy in the UAE. We also know that when the last government published the bill to introduce an independent regulator, in approving takeovers one of the things they were to have regard to was the UK's trade and foreign policy. Those requirements were dropped when the bill was re-introduced after the 2024 election, but it is not fanciful to suspect that the government brought whatever influence it might have to bear to ensure that an embarrassing and damaging tribunal hearing did not threaten the substantial Abu Dhabi investments within the UK.
Again, this has not happened. We saw that the PL, under pressure from the redshirts and Tottenham Poodle to block the Saudi takeover, eventually buckled when the government brought its weight to bear. It would be surprising if the last government in particular, coming to the end of its term and desperate to avoid more bad economic news had adopted an entirely laissez-faire attitude towards all this. And when you've got the redshirts et al telling you what to do on the one side, and the government telling you what to do on the other, there's probably only one winner.
So what do we make of it? I haven't got time to set out my thoughts more fully as I’m about to hit the M1 in advance of the Brighton game. We will know soon enough, but nothing screams "confidence" like refusing to take a deal.
Especially if the PL has been pressured into offering one.