That's not going to work. Look at the table now: Do Leicester, West Ham, Everton go into the CL, or into the EL, even though they are above the likes of Arsenal, Tottenham, Liverpool? That is not a good product to sell to TV.
Lots of UK clubs have loaned against future TV revevue, so they'll be shitting themselves right now. Revenue is going to fall anyway for the PL because there isn't going to be more TV money overall, it will be redistributed to the SL from the national leagues and the CL. The fortuneless fourteen aren't going to be happy about City et.al. getting any of the PL money.
I think we're screwed if UEFA don't blink, both as a club and a sport because it will make UEFA untouchable.
And I think we're screwed if they do. Can you see City being allowed to win this Super League?