I've looked at the full document, I will summarise some of the worst charges.
Expulsion looks more likely than first thought, while yes they don't have jurisdiction there's still a mechanism where they revoke the license (through expulsion) for them to be in the Premier League which leads to the EFL having to vote where to put them, which is highly likely to be League Two (4th tier) but if that fails they would be admitted to non-league (5th or 6th tier)
There could be a scenario where they are in the UCL because they won the Premier League 26/27 and then play Real Madrid on Wednesday but Accrington Stanley on the Saturday.
I attached the judgement but this is the TL;DR:
1. Equity contributions from its owner, ADUG, were falsely recorded as commercial revenue from Abu Dhabi sponsors. To further misrepresent its financial health, the club also used secret mechanisms, such as the "Fordham Arrangement," to pay player and manager salaries through owner funds rather than official club accounts.
2. Over the course of nine seasons, the club failed to disclose its Abu Dhabi sponsorship agreements as related party transactions. This deliberate omission prevented auditors and regulators from understanding the true financial impact of the club's relationship with its owners.
3. By artificially inflating its revenue and hiding its expenses, the club circumvented UEFA's Club Licensing and Financial Fair Play Regulations. The Commission noted that if the club's accounts were accurately restated to remove this disguised funding, it would have failed UEFA's break-even requirements and PL's FFP by
£900 MILLION (up to 2 billion euros in today's football inflation that they caused...)
4. After a shock loss in the FA Cup to Wigan, their director told the UAE sponsors to add a million or two to each of the sponsorship fees to make up the financial difference..
5. Rather than assisting the Premier League's inquiry into its finances, the club made "concerted efforts to stop and frustrate the PL investigation". Senior members of the football club were told to make false statements to delay the investigation. These were proven to be false by the Premier League and the independent commission.
6. There's some more but I ran out of time.
EDIT: Journalist found some more financial anomalies even AFTER these charges.
TL;DR the TL;DR:
THEY'RE FUCKED, NOTHING THEY SAY WILL SAVE THEM!
Expulsion wouldn't be surprising.