UEFA's decision to ban Manchester City from the Champions League for two years sent shockwaves through the football world when it was announced on Friday.
The club are furious about the verdict handed out by the Adjudicatory Chamber of the Club Financial Control Body which concluded that City were guilty of "serious breaches" of Financial Fair Play (FFP) regulations.
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City will appeal the decision with the Court of Arbitration for Sport (CAS) and are confident the judgment will be overturned. But the ban prompted immediate questions about the short-term future of the club and its staff.
What is the future for Pep Guardiola?
The City boss was facing questions about his future even before UEFA's announcement, with speculation that Juventus could try to tempt him to Italy.
Guardiola has a contract until 2021 and has insisted that he was "100 per cent staying" to see out his deal. The 49-year-old has told friends that he remains committed to the club even if City fail to win their appeal.
However, that would mean that this season would be his final attempt to win the Champions League with City - beginning with the round of 16 clash with Real Madrid later the month.
Will any players leave the club?
David Silva has already indicated he will leave at the end of the season while winger Leroy Sane remains a long-term target for Bayern Munich.
The rest of the squad were told by chief executive officer Ferran Soriano at a team meeting the day after the news of the ban that the club are confident they will succeed in overturning it.
Raheem Sterling, who has been linked with Real Madrid, has already pledged his future to the club while others are believed to be committed while the appeal goes through.
However, it would become more difficult if the appeal were to be unsuccessful with many players' contracts containing European bonuses, while the prospect of missing out on Champions League football would be huge blow.
How is income affected?
City do not have any sponsorship deals dependent on Champions League participation although they would miss out on the possibility of nominal increments based on success, sources have told Goal.
The club boast close to 50 global and regional partners and contracts remain the same regardless of involvement in European tournaments.
The City Football Group started a 10-year deal with Puma in the summer worth around £65m ($85m/€78m) a year. That would be unaffected if they were to miss out on the Champions League, unlike other clubs such as Manchester United, who miss out on £20m ($26m/€24m) from adidas if they fail to qualify for two consecutive seasons.
A loss of European prize money would be a greater impact. City earned more than £80m ($104m/€96m) when they reached the quarter-finals last season while Liverpool made £110m ($143m/€132m) for winning the Champions League. With prize money rising again, if the two-year ban is upheld then City could miss out on around £200m ($260m/€241m) with gate receipts on top of that.
City's punishment also included a £30m ($39m/€36m) fine.
Does it affect City's summer transfer plans?
Club sources insist it is business as usual. Guardiola and director of football Txiki Begiristain had already decided that they needed to bring a number of new faces and the club likes to work quickly to identify targets.
There is no timescale on how long an appeal will take although it is likely that all parties would want the situation sorted before Champions League qualification matches start in July.
Goal has been told that City have spoken to several agents to try to clarify their position over the appeal process. However, it would be understandable if any potential target were to hang off committing themselves to a move until CAS delivers its own verdict.
What action will the Premier League take?
The Premier League has its own FFP-style regulations and launched its own investigation into City in March.
It has not yet commented on the investigation although new chief executive Richard Masters confirmed it is ongoing.
Any potential punishment such as a points reduction will not be confirmed until their own investigation is concluded.
