MCFC's crime has been financial. The deceipt, lies, evasion all the result of dishonesty by the clubs owners.
I don't think it's realistic to punish the players, this is pureley a financial malpractice.
As a financial malpractice there should be a financial punishment, not a fine, that may suit the PL and MCFC, but
a punishment exactly the opposite of the crime. Impose a limit on their spending, reduce their limit under PSR to that which a PL club at the bottom end of the PL would face, for a number of years.