I think UEFA should be hoping the CAS throw the whole case out. I'm curious as to what the CAS will do. If City can prove they are innocent, then even accepting a fine at this point would be counter-intuitive. If they do manage to get even a 1 year ban through, then it will really get messy and costly too but if City win then they'll be well in profit at the end of it.
I expect it could come to that and the first course of action should be to immediately go after FFP itself getting that deemed as illegal business practice asap would be the quickest route to resolution. It would probably mean a season without CL football but one season out of the CL wouldn't be that bad especially if it's all expenses paid vacation from UEFA after the second court case aimed directly at UEFA themselves for loss of earning, damage to the club image etc. Then there should be several alongside that aimed at the press who have been used as instruments of evil in this operation from day one.