Manchester City are likely to face difficulties should punishments be upheld

Premier League may backdate points deduction should they find wrongdoing

This would mean the club could have their 2014 league title removed

Any ban would wreck finances and mean star players may be forced to leave

SPECIAL REPORT: How City could fall out of the category of world super clubs

Manchester City will have to restructure their finances completely, potentially leading to the sale of leading players such as Raheem Sterling, Kevin De Bruyne and Aymeric Laporte, if the Court of Arbitration for Sport upholds the two-year ban from the Champions League imposed by UEFA's Club Financial Control Body.

City also face the possibility of being stripped of their Premier League title won in 2014 if a separate Premier League investigation were to find that they had breached financial rules, which City deny.

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Manager Pep Guardiola is said to be supportive of the club's position and in no imminent danger of leaving, with the club maintaining they will be cleared of breaches of UEFA's Financial Fair Play rules.

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But in the separate Premier League inquiry, City have yet to be charged and the governing body have issued no comment, even though there has been speculation about a points deduction this season, which would now be largely meaningless.

If City are charged, the Premier League rule book allows a commission to deduct points retrospectively, which would impact on City's positions in the seasons affected.

Though not confirmed by the Premier League, the period under investigation would appear to be from 2012 to 2016, as that is the when UEFA's CFCB says that City overstated their sponsorship income.

It is unclear whether it would cover City's 2012 Premier League title win though it would cover the 2014 win.

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City will not receive any sympathy from the other 19 Premier League clubs, many of whom stand to benefit from City being permanently weakened.

Steven Gerrard and Liverpool missed out on the title in 2014 at the hands of Manchester City

Gerrard slipped to allow Demba Ba to score as Chelsea beat Liverpool and City won the title

The final Premier League table at the conclusion of the 2013-14 title race won by City

Premier League rules are less stringent than UEFA's, allowing losses of £105million over three seasons but rely on the figures submitted by the clubs.

City have insisted all their submissions were accurate but UEFA's CFCB say sponsorship revenue was 'overstated'.

Liverpool boss Jurgen Klopp admitted he was stunned at news of the ban. 'It was a shock,' he said.

'Complete wow. What they have done on the pitch is exceptional. The rest, I don't know. You believe the people you work with. I feel for them. They can appeal so we will see what happens then. It is obviously serious.'

City are likely to face a D-Day in court this summer, with proceeding needing to be done before July 23, when the Europa League starts for the lowest qualified English club.

Liverpool boss Jurgen Klopp offered his sympathy and support to Manchester City

City also cannot be sure whether UEFA's CFCB will approve their budgets going forward if CAS agree they have previously overstated income, so they will be unsure as to how much they can spend. It could lead to a player exodus and ex-England star and BT pundit Jermaine Jenas said: 'From a player's point of view... that's not my fault as a player…

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'Now you're telling me my ability to play in the Champions League is taken away from me for the next two years. I don't see how the fans could blame them personally for walking away.'

NICK HARRIS ON CITY'S LOSSES Manchester City face large financial losses if CAS uphold UEFA's two-year European ban and deprive them of Champions League income. A financial squeeze would restrict their ability to buy and pay players, leading to an almost inevitable decline in the quality of their squad — and results. This is just one ramification of the ban, with UEFA citing 'serious breaches' of Financial Fair Play (FFP) rules up to 2016 and City's failure to cooperate with an investigation. City's most recent financial accounts, for the 2018-19 season, show revenue of £535million and a small profit of £10.1m. But those revenues included about £100m from the Champions League, comprised of £86m in prize cash from UEFA, plus match day and hospitality income from five home CL matches of more than £10m. Other commercial income related to Europe was also included. Losing out on that £100m would have led to a £90m loss. The impact would be similar if a ban is in force for 2020-21, but intensify if a ban ran to two years. City have also been handed a €30m (£25m) fine, which they will appeal. If City post losses from next season, they could fall foul of FFP again – for spending more than they earn. The simplest remedy would be to sell players, which would raise income and cut a wage bill that stood at £315m last season. A two-year ban would raise the prospect of manager Pep Guardiola leaving, while the club's best players might also consider their futures. Whether some of City's major 'global partners', including Puma and Nissan, would seek to renegotiate terms is not known. For a club of their size, City earn an unusually high sum from commercial income: last season it was £229m — much higher than rivals Liverpool (£186m) and Chelsea (£185m), both 'bigger' clubs who have won the Champions League and have larger global fanbases. City's commercial income is so large because £130m comes from sponsors based in the UAE, where club owner Sheik Mansour has huge influence on City's partners. Etihad alone is believed to pay £80m a year to sponsor City's shirts and campus, while telecoms firm Etislat pay about £16.5m and Visit Abu Dhabi £19.75m. The Korean tyre firm Nexen pay £10m a year to be City's sleeve sponsor, having entered into a 'strategic partnership' with the UAE's sovereign wealth fund Mubadala. Documents published by German magazine Der Spiegel last year indicated that in 2015 Etihad was, in fact, only paying £8m towards a then £67.5m annual deal with City, while Mansour was topping up the other £59.5m himself. If confirmed as accurate, that would breach FFP.