There should be a transparent internal assessment of who was involved in the decision making process and they should be held accountable for such an unpopular, anti-competitive decision.
There should be a points deduction from the PL/FA for bringing the game into disrepute.
Teams should be banned from Europe for one season.
This issue is this serious. I don't know how "involved" City were, did they think they were signing up to an "idea" or an "actuality"? As we were the last to sign up and the first to drop out, there may well be mitigating factors we are unaware of. I'd love if we came out of this clean, but if it was any other club but my own, I would consider the above processes and punishments a minimum.