The Athletic has reported that Manchester City have been found guilty of 114 of 115 alleged breaches of the Premier League’s financial regulations, although the case remains a matter of dispute.
Ilicali became the first Premier League owner to publicly comment on the case, saying the issue should be treated seriously if City are ultimately found to have broken the rules.
“If they are not innocent, and they have done something, I don't think it is any different from doping and winning an Olympic medal,” Ilicali said, speaking on the 1904 Club podcast.
“It is economic doping, when all is said and done. Signing four or five top players for huge amounts and breaking the rules. In that way, it doesn't look very positive.”
Ilicali stressed that he was not claiming to know the details of the case and said he was speaking only in general terms about financial regulations in football.
“As an owner, I should not talk too much about it, because I am not involved in the case and I don't know all the details,” he said.
“But generally, I believe that if something in football is unfair, it should be punished.”
The Hull City owner also argued that any punishment should be substantial enough to deter other clubs from breaching the rules.
“If you give a small punishment, everyone will do it,” Ilicali said.
“For the future of football and a clean future, these kinds of things, if they happened, should be punished, so you don't let people do such things.”
Manchester City have consistently denied the allegations against them and have contested the Premier League proceedings.
The case concerns alleged breaches of financial rules over a lengthy period and has been one of the most significant regulatory disputes in English football.
Ilicali’s comments add a Premier League club owner’s perspective to the debate surrounding the case, while the final consequences depend on the outcome of the proceedings.