They're in a lose-lose situation whatever the outcome is. It'll also spawn many legal cases branching off from the decision too.

If City are chucked out and titles removed etc, they will bury it in legal action.

If they are not, I expect there will be several clubs insisting that they should be and more legal cases begin.

There is a kind of hollow victory for the premier league on offer though. If the decision is to come this season, they could dock City say, 40 points and issue a fine. City would still stay up. They would miss the Champions League for a season, but for them it would probably be worth it to keep their ill gotten gains. They've also had their worst year under Guardiola and wouldn't miss out on anything this year. I think the actual decision will be somewhere in this ballpark.