Ally McCoist was Rangers manager when the club were relegated to the Scottish Third Division, with a potentially similar fate awaiting Manchester City.
Man City have been found guilty of the majority of the financial charges against and they could be set for an unprecedented level of sporting sanctions.
Ally McCoist celebrates after victory in the Old Firm for Rangers against Celtic4
McCoist had three years as Rangers manager and was the first one tasked with bringing them back from the bottom
The Premier League or the independent panel that conducted the ten-week hearing are yet to issue any public statement, while Man City insist the process is still ongoing.
But depending on how many and the severity of the charges, there are a huge range of punishments.
At the worst end of the scale are points deductions for successive seasons that would probably relegate the eight-time Premier League champions.
There is also the potential for expulsion from the league, a punishment similar to what McCoist experienced when the manager of Rangers.
Gers were demoted due to entering administration. The 30 members of the Scottish Football League clubs voted 25 to five in favour of Rangers having to start at the bottom of the Scottish football pyramid.
McCoist agreed to stay on and remained with the club until their first season in the Scottish Championship when he resigned in 2014.
Speaking about that tumultuous time on talkSPORT Breakfast, he said: "It was difficult for a lot of people. It wasn't an ideal situation, but it ended up being a bizarre/brilliant experience.
"It was the last thing we needed, but we had to make the best out of what it was, and I sometimes regret not doing a book on the journey back up.
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"It was absolutely incredible going to places like Peterhead, Elgin and Montrose.
"So for the journey itself, City fans will stick with them if that happens - they would."
McCoist hasn't managed since leaving Rangers and is now a talkSPORT regular4
McCoist hasn't managed since leaving Rangers and is now a talkSPORT regular
Manchester City lift the Premier League trophy, May 2018.4
Man City face a nervous wait on what punishments await
When asked if the players stayed, he said: "Not many. I say not many - basically none, so that totally transforms it.
"Then, everyone has an opinion of what you should do. There was all sorts of nonsense spouted about it because everybody thinks they are an expert.
"You've got to find the best way to attract the best players you possibly can to win a league because the best players in that league will not necessarily win you it because you are a cup final every Saturday.
"But it is fascinating, absolutely fascinating, and I think they will be put down the leagues, but I am not sure how far."
Punishment to match the crime
In terms of what should happen to City, Gabby Agbonlahor, believes a robust one must be issued.
He said: "What should happen is that in the next couple of months, they are deducted enough points to mathematically relegate them this season.
"Then next season, deduct them enough points to get them relegated again and so on and so on until they go down to League Two.
"You can speak from experience perfectly with Rangers."
Rangers battled hard to make it to back to the Scottish Premiership after four years of grinding4
Rangers battled hard to make it to back to the Scottish Premiership after four years of grinding
What we know about Man City?
Man City are expected to launch an appeal against whatever the verdict is.
talkSPORT understands that clubs up and down the country are looking at collective compensation for missing out on Europe, being relegated and trophies and that is set to start at around £2billion.
There are even some calls for Man City's owners to stand down.
And this is something that Simon Jordan feels very strongly about, saying on White and Jordan: "My view is that the club should be stripped from the owners but how you do that is a different matter.
"The owners are responsible, and if Man City are absolutely guilty, I am glad they are being consequenced.
"I don't like that they think they can do what they want.
"However, you look at this, they have refused to co-operate with UEFA, pretty much refused to co-operate with the Premier League, and rather than change the rules, they chose to find their way around it.
"I have a vested interest in the Premier League maintaining their position as the greatest league in the world, so my mind is how do we preserve the values of the Premier League and consequence Man City if they are guilty, as we believe they are."