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What now for Pep Guardiola after Manchester City's European ban?

(CNN)What started with claims in a German magazine has resulted in Manchester City being banned from European club competitions for two seasons and fined $32.5 million. UEFA's decision to punish the reigning English Premier League champion after it found the club had committed "serious breaches" of the European governing body's club licensing and financial fair play regulations has led to shock, denial and plenty of questions. The punishment is subject to appeal to the Court of Arbitration for Sport, and City immediately issued a statement Friday describing UEFA's process as "flawed" and making it clear the fight is not over. But how did it come to this and what now for one of the world's richest football clubs and its manager Pep Guardiol ...