There is no easy answer, but I do predict a relegation. And/or a points.penalty each year for several years that precludes Champoins League football via the league.
There are 20-30 other wealthy clubs with a grievance and a slap on the wrist won't satisfy any of them.
However not this year, because the City Group will continue to spend tens of millions on legal obfuscation.
The corrosive effect on signings will begin immediately, however. The clubs denials are starting to sound increasingly, let's say, Russian.
They've lost Guardiola (not a coincidence I dont think) and now players will be seeking relegation clauses and/or much higher wages. Partly that's because Guardiola was such a draw. Partly these players will want to play in the Champions League and have short careers.
Let's face it, this is financial doping and is distinct from self earned club wealth and player purchases from the likes of Arsenal, United historically, Liverpool etc. Aside from anything else, historically any club could do it (and several did, sometimes to their own cost, e.g. Leeds). Whereas now most clubs are following the rules.
The Chelski project was a warning sign and City are the result.
The Newcastle project is what state aid should look like under the rules, whereas City literally spent £1Bn when they should have been able to spend a quarter of that. They are still benefitting from the advantage that gave them.