If it’s just to championship,.players will stay as it will just be one season. It will be ridiculous as with a simple punishment like that, would mean the cheating was worth it. Personally it the PL and FA want clubs to be strict on their financials etc the punishment has to be harsh enough to deter so imho 3 years banned from playing and then restart from National league. Rangers for a much lesser offence were demoted to the lowest division.
Simply a points deduction will not deter such abuses if it means you can gain such momentum and success and then pay for it all with just 1 yr troubles. Proper sanctions which would deter anyone else abusing would be suspension from league for 3 years and then they must start off from National league. Only such a penalty will deter cheating.