Chelsea are looking to sign a Manchester City star, after they were found guilty of breaching the Premier League's financial regulations.

Man City charges update

Man City have now confirmed they have lodged an appeal against the verdict, with a club statement reading: "The Club’s firm position is that, on multiple grounds, the opinion contains clear material errors, of law, principle and fact and is unsafe.

"The Club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case. We will continue to respect due process and are necessarily restricted in what we can say further until all proceedings are complete."

However, should the appeal be unsuccessful, City's punishment could be severe, with Sky Sports reporting that rival clubs will expect them to be removed from the Premier League, as a points deduction would be too lenient.

It remains to be seen how the situation plays out, with Man City still maintaining their innocence, but there is already talk about some of their top players leaving, including Erling Haaland, who has reportedly been attracting interest from Arsenal.

Chelsea plotting raid to sign Rayan Cherki

There have been suggestions Rayan Cherki could be on the move too, with a report from TEAMtalk revealing Chelsea are now interested in signing the Frenchman, who rakes in £180,000-a-week at the Etihad Stadium, which makes him City's third-highest earner.

Paris Saint-Germain, Bayern Munich and Liverpool are also named as potential suitors for Cherki, but any deal would have to be on the expensive side, as he remains under contract until the summer of 2030.

Previously heralded as a "future Ballon d'Or winner" by The Athletic's Alexander Barker, the Lyon-born attacking midfielder has also been in red-hot form this season, picking up three goals and two assists in five Premier League outings, while also picking up three goal involvements in four games for France during the recent international break.

At 23-years-old, the Man City star, who has a combined six goals and assists at club level this season, is still very young, but he is already performing at a very high level according to The Athletic's JJ Bull.

As such, Chelsea should undoubtedly make a move for Cherki if the opportunity arises, but they will seemingly have to wait and see whether Man City's appeal is successful.