Peaky Blinders had this one chance to redeem one of the most hated characters but surprisingly failed (& it's not Oswald Mosley)

Peaky Blinders has never shied away from morally corrupt characters and hatred often comes easily in Steven Knight's world, which is ruled by violence and betrayal. While Oswald Mosley is usually singled out as the show’s most detestable figure, there was another character who quietly earned the audience’s resentment and whose arc deserved a second look in the final season.

Michael Gray (Finn Cole) was introduced as Polly Shelby’s long-lost son and a symbol of hope for the family’s future but eventually became one of the series’ most frustrating disappointments.

Seasoned Peaky Blinders fans were intrigued by Michael's character when he was first introduced in the second season because he was not positioned as a villain. His early naivety made him easy to root for, while his growing hunger for ambition and power began to echo Tommy Shelby’s own rise, positioning the two as deliberate mirrors of one another.

While Michael Shelby had a promising start, he eventually became a one-dimensional antagonist as Peaky Blinders reached its final season. However, Aunt Polly's tragic death provided the perfect opportunity for Michael's redemption but the show transformed it into a baseless revenge plot against Tommy Shelby.

More on this in our story.

Michael Gray had a promising start in Peaky Blinders Season 2

Michael Gray, Polly's son, who was raised by his adoptive family away from Small Heath, had a moral compass and a sharp business mindset when he was introduced into the Shelby family business by Tommy. Michael's introduction was transformative, promising a new wave of class and ideas into the Shelby family.

While much of Tommy's business relied on violence and intimidation in Peaky Blinders Season 2, Michael's introduction provided a hopeful turn for the Shelby family. Polly's concerns over her son's safety were sympathetic but Michael's gradual interest in the business felt earned rather than forced. Michael's initial naivety impressively transformed into skill and a determination to learn, making him the perfect candidate as Tommy's successor. While Tommy's own brother, Arthur, was inadequate at handling the family empire, Michael's education and expertise in financial matters were sharply contrasted with Tommy's ruthless approach, suggesting a tonal shift in the Shelby business operations, something Tommy aspired for in the latter seasons.

Gina's arrival and Michael's arrogance were the beginning of his downfall in Peaky Blinders

Peaky Blinders fans were waiting to see Michael's promising introduction pay off but he had a downward trajectory, especially in the latter seasons, which saw him fail Tommy's rat test, move to America and his much-fated meeting with Gina, his future wife. As Michael gained confidence, he stepped away from Tommy and his family and took a turn for the worse. While the audience initially sympathized with him as an outsider, he eventually became a usurper of power, who somehow felt the Shelby business was his birthright.

This change was not overnight but gradual. It started when Tommy performed a small test to check his loyalty and he miserably failed. After Michael chose not to warn Tommy about Polly's plan to give him up to Oswald Mosley, the Birmingham leader banished him to the USA. While Michael always wanted to expand the Shelby empire into the New World, this move was restricted and he was still under Tommy's rule.

Then came the plot twist that essentially derailed Michael's arc beyond repair: his future wife, Gina. She played a significant role in amplifying Michael’s sense of entitlement. Together, they began to see Tommy not as a leader to learn from but as an obstacle to remove. After encouraging her husband to go after the Shelby family fortune, Gina convinced Michael to commit the sin that sealed his fate in the Peaky Blinders series finale: eliminate Tommy Shelby.

Polly's death could have redeemed Michael in Peaky Blinders

If there was ever a moment for Michael Gray to reclaim his humanity, it was after Polly’s death in the final season of the show. Peaky Blinders Season 6 presented all the necessary ingredients for redemption. Michael was imprisoned, powerless and had lost his mother and his future within the family. From a storytelling perspective, this was the ideal moment to explore introspection and regret. A redeemed Michael could have acknowledged his mistakes, confronted the consequences of his ambition and perhaps even found common ground with Tommy through shared grief.

While the show could have concluded with Michael's growth and acceptance of Tommy as the ultimate ruler of his family dynasty, it ended with his vendetta. Betrayal and revenge are two important themes in Knight's series but Michael's personal vendetta against Tommy for his mother's death felt less layered (and out of genuine love for Polly) and more like hatred for Tommy. Rather than deepening his internal moral conflict and grief over his mother's death, Michael became a one-note antagonist in Peaky Blinders, adamant on killing Tommy, which led to his own tragic death in the series finale, still one of the most wasted potential in the show's universe.

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