City were found guilty of each and every one of the 115 charges brought upon them by the Premier League after years of uncertainty.
An independent commission found the club had broken rules over a nine-year period between 2009 and 2018 by creating "sham" contracts with commercial partners to secretly funnel nearly £1 billion into their football operations.
Man City continue to deny all wrongdoing and have since appealed the decision.
Despite the verdict and apparent industrial scale cheating, Enrique, who managed fellow state-backed club PSG, hopes Man City avoid any sanctions.
Speaking ahead of their meeting in the Champions League on Wednesday (October 14), he said: "There is a lot of noise around Manchester City and there is often noise around big clubs.
"We have just have to wait and see what the final decision will be. I hope everything works out well for Manchester City because I think what they have done on the pitch has been incredible over the last few years and they certainly deserved to win on the pitch all the trophies they have won.
"Now we have to wait to see what the authorities decide or the judge is going to say."
Enrique added: "The first thing that you hear, it is a surprise, but we need to respect the process and wait for the final decision.
"The authorities are responsible for making these decisions. But speaking only about football, they deserved those trophies. I love their football. Beyond that, we have to wait for the decision.
"The trophies you win on the pitch remain on the pitch. They deserved to win that and I hope they can avoid the sanction. But we have to wait."