Manchester City have reportedly been found guilty of 114 of the 115 Premier League financial-rule charges brought against them over three years ago.
The Premier League itself has not publicly confirmed the verdict, and City confirmed they will appeal the decision, which could see them fined, stripped of their titles or kicked out of the first division.
Pulis, who reached the 2011 FA Cup final with Stoke City, has become the latest figure to speak out about the situation as he feels he and his side were robbed of what would have been an unforgettable moment for the club.
'What will the punishment be?'
"We lost, but to a team that have been found guilty of breaking the financial rules set out by the Premier League," said Pulis in a column for the BBC.
"In doing so, they did not just beat Stoke in an FA Cup final; they collected a stack of titles and went on to completely dominate English football for more than a decade. So, with those rules having been broken, what will the punishment be?
"Well, I know all Stoke supporters will be demanding that City pass the trophy over and every club that has been affected by their actions will be considering their legal options."
'Points deduction and massive fine feels more likely'
Pulis continued as he revealed that he does not believe Stoke will be handed the trophy in what he thinks is an unrealistic punishment.
"I don't expect Manchester City to phone the club or me up and offer back the 2011 FA Cup and the winners' medals their players received.
"I don't seriously believe any other trophies and titles will be handed back over either. A points deduction and a massive fine feels far more likely.
"But I still feel cheated. Whatever happens next, we won't ever get that day back and the chance to celebrate around Stoke-on-Trent with the cup and medals we so honestly fought for. After breaking the rules, Manchester City got to do that instead," he concluded.
City would also lose three Premier League trophies if their titles from the period in question were taken away, and the likes of Rio Ferdinand, Jose Enrique and David De Gea have since spoken out about being handed those titles after finishing in second place.