I think a lot of people are underestimating how devastating Man City being demoted to the Championship would be for them.

They can obviously easily absorb any financial loses from fines and a year out of the PL and CL but given it’s widely accepted( at least in the U.K.) that they are a state sponsored sports washing institution the whole reason for their existence in their current form is meant to be symbolic.

Suddenly becoming symbolic of corruption and cheating in the eyes of the causal sports fan across the world( rather than just U.K. based PL fans) means their attempts at sports washing will suddenly be deemed an utter failure-especially if all their trophies are rescinded. The current owners aren’t in it for the love of the club or the city or even to make money. They are there to foster a certain reputation in the eyes of the world-and those reputation goals is certainly not to highlight corruption.

As such if Man City are actually severely punished(which is unlikely in reality) it may not be the quick bounce back most are expecting as there is then the very real possibly the owners will sell.

Despite currently being the most successful on the pitch club in the world there is unlikely going to a host of multiple billionaire owners desperate to buy as they simply don’t have the global fan base to make them a super attractive prospect. Juventus and Rangers sprang back so quickly after their punishments because their fanbase was so large, loyal and organic. Everybody knows that 90 percent of Man City fans are plastic casuals who will jump ship as soon as they stop winning.