But a two-season ban from the competition would represent a huge blow to the club’s prestige, finances and hope of hanging onto manager Pep Guardiola and key players like Kevin de Bruyne and Raheem Sterling.
“Two years would be long. One year is something I might be able to cope with,” De Bruyne told Het Laatste Nieuws last month.
The added loss of gate receipts and commercial revenue would make it extremely difficult for the club to meet FFP regulations in the future without cutting costs.
City have steadfastly refuted Uefa’s allegations.
“Based on our experience and our perception, this seems to be less about justice and more about politics,” said CEO of the City Football Group Ferran Soriano.
European football’s governing body also have plenty riding on the case. Lose the appeal and the future of Uefa’s FFP regulations will be called into question.
The hearing will be held by videoconference due to coronavirus restrictions from Monday to Wednesday.
If no verdict is immediately announced after the hearing, the decision “could be made during the month of July,” said Matthieu Reeb, secretary-general of Cas.
Even if City’s appeal to Cas fails, the English champions could present a further appeal before the Swiss Federal Court.
A delayed outcome would leave a cloud hanging over the return of the Premier League season.
City seem certain to secure Champions League qualification on the field with a 12-point lead over fifth-placed Manchester United.
If they are excluded, fifth would be good enough for the riches of next season’s Champions League, which are all the more valuable during the economic crisis caused by coronavirus.
Just six points separate United from Crystal Palace in 11th, leaving plenty to play for in the final nine games of the season once the Premier League restarts on 17 June.