Maybe it's too complicated for me but... They actually lose more, than they said? What kind of cheat this is? Sounds like opposite word for cheat.

Anyway, we as society only win.

What?

They got new owners who then brazenly and repeatedly broke the spending rules and proceeded to win the top flight league 8 times over the past 15 seasons (and a load of other silverware) directly because of that, after not even coming close for half a century. They then hid this rule breaking via dodgy backroom sponsorships, cooking the books by nearly £1bn.

That's before going into how the whole endeavour is very clearly political sportswashing

Is it known what the consequences will be?

They're currently appealing it so currently no penalty has been issued, sadly

There's a lot of speculation around what will happen though, some are saying relegation out of the football league (not just the premier League), big fines which could then be distributed to other teams. Some people are suggesting the titles could be stripped, but that's currently unprecedented with a lot of pundits saying it'll never happen. I've read that there's a good chance the owners could end up banned from owning any club in the UK

It's currently more delay for repercussions unfortunately