Manchester City may face multiple seasons in the Championship if they fail in their appeal after being found guilty of serious financial misconduct by the Premier League.

It was confirmed earlier this month that an independent commission had found the club guilty of 114 of the 115 charges levelled against them by the Premier League. They related to the artificial inflation of City’s finances via ‘sham’ sponsorship deals and the obstruction of the commission’s investigation.

City, however, maintain their innocence and have appealed the decision, insisting they hold ‘irrefutable’ evidence to disprove what they consider to be a ‘dangerous’ verdict.

There has been rampant speculation as to how City might be sanctioned should they fail in that appeal, and an expected punishment has now been revealed.

Per reports in the Daily Mail, Premier League ‘insiders’ expect City to be slapped with a hefty points deduction, big enough to send them down to the Championship, on top of a large fine. In addition, they could also be handed further deductions to keep them in the second tier for at least one more campaign.

The idea would be to allow them the opportunity to rebuild the club and its shattered reputation from there.

There is theoretically potential for City to be expelled from the Premier League altogether, dropping them down to League Two, but this is seen as an unlikely eventuality.

It would require the voted assent of the league’s shareholders, who the Mail reports are wary of the implications of such an expulsion, which it is feared would bring the league into a bad light.

The report adds that no decision is expected before the end of January, meaning this already lengthy saga is set to rumble on for quite some time.

City’s players and staff remain in fine form on the pitch, having won both of their league matches since the verdict was released. They did, however, suffer a heavy defeat at the hands of European champions Paris Saint-Germain.