The Premier league champions who are currently placed 2nd on the league standings have 10 days to lodge their appeal against being thrown out of the Champions League to the Court of Arbitration for Sport.
The club were banned on Friday from European club competition for the next two seasons for “serious breaches” of Uefa’s financial regulations.
The Premier League champions were also fined 30m euros (£25m).
City said in a statement on Friday that they intended to appeal against Uefa’s “prejudicial” decision.
Club sources have also indicated there is no likelihood of City accepting a partial punishment for Financial Fair Play breaches in order to resolve the situation quickly.
In addition to lodging their appeal, City will also need to ask for the ban and fine to be set aside until the appeal is heard, otherwise the punishment will still apply.
The Premier League have not commented on Friday’s decision but their Financial Fair Play Rules are known to be broadly similar to Uefa’s and City’s situation has been the subject of discussion among member clubs recently.
Should the Premier League decide to bring a charge against City, they can ask Uefa for permission to look at the same evidence they have used to reach their own verdict.
If the example of Red Star Belgrade is any guide, the fifth-placed team in the Premier League will benefit should City be excluded from European competition.
Red Star were banned from the 2014-15 Champions League by Uefa for Financial Fair Play breaches.
Although they finished second in the Serbian League behind Red Star, Partizan Belgrade were elevated to the Champions League from the Europa League, with fifth-placed Cukaricki filling the spare Europa League slot as the highest finisher not to have already qualified for European competition.