Manchester City have been found guilty of all charges related to serious breaches of Premier League financial rules by an independent commission as rivals fans wait for the side to be punsihed.
Punishments range from fines, being kicked from the Premier League and having their titles stripped won in a period ranging from 2009 to 2018. City will appeal the charges and reports have suggested such a process could go on for years.
The club have until Friday October 2 to appeal in a saga that could compeltely destory the side, ruining their reputation and sending them far down the football pyramid.
Speaking on the situation, Richards revealed that he is devastated, but believes it could be years before it is concluded.
"The reports were troubling. I saw the words which were used by the Premier League in sham contracts and I felt absolutely devastated.
"I’ve been at that club since I was 14 years old, I would die for that club. I achieved my dream at Manchester City, but then to hear these reports, and not only me as an ex-player, but the fans, what they have to go through, absolutely devastating.'
"There are no winners in this,' added Richards. 'If Man City do the appeal and they get off, it’s still going to be tarnished. And, if they’re found guilty after the appeal, what happens then?
"And it’s not just Man City fans or Man City players, it’s the whole of the Premier League comes into question. This could be something that goes on for years and years and years."
City spent about £1.2bn on new players in the transfer windows between summer 2009 and January 2018, winning seven major trophies including three Premier Leagues, one FA Cup, and three EFL Cups.