Speaking during ITV's coverage, he called for unprecedented punishment after reports that City had been found guilty of serious financial breaches spanning nine seasons.
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The Citizens allegedly used disguised funding arrangements to inflate revenue and reduce costs by more than £900 million.
"It’s cheating on an industrial scale. It’s quite surreal seeing it written down like that. You can’t mention City without mentioning what’s going on because they were so great. I feel like an unprecedented punishment is required here," said Wright.
"It’s a massive day for the Premier League, they’ve taken on a whole country. It’s going to get so litigious now, I think it’s going to go on for so long. It’s so sad."