Former Manchester City chairman David Bernstein has called for the club's directors to step down after City were found guilty of serious breaches of the Premier League's financial rules.
The league announced in a statement on Tuesday that City had been found guilty on all charges related to the period between 2009 and 2018, with league CEO Richard Masters saying that the club "systematically broke Premier League rules for nearly a decade."
City said in a statement on Tuesday that they will appeal the verdict.
"I can't think of a penalty strong enough for this, really. I mean, this is absolutely terrible," Bernstein, who was chairman of the club between 1998 and 2003, told talkSPORT.
"I want to raise another question, and that is the position of the board of directors. Because the directors of the club, including the chief executive, who's been there for years and went through this period, are responsible for the running of the club in every respect.
"If this was a public company of some sort, I think the directors, with something as serious as this, would have to stand down or be suspended pending the outcome of all this... Appeal or no appeal.
"I don't think the present management can credibly continue."
Asked in a separate interview with the BBC whether City's actions constituted fraud, Bernstein suggested that he felt the actions of the board merited a legal investigation.
"I would go that far, yes," he said. "And if it is, -- I'm not a lawyer, and I'm only just putting this on the table as a thought, really -- but it is something that is so serious that it goes beyond the football authorities. It is damning beyond belief.
Bernstein, who is a lifelong City fan, also suggested that the club should be removed from the Premier League.
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"If [City's appeal] drags on for a year or two, heaven forbid, that would be the worst thing for everybody," he told talkSPORT.
"But if it did, then you'd have a different situation. So it's a little difficult to predict. But all I would say is that money [a financial penalty] is not sufficient now.
"But if these charges stand now and let's say the appeal does not happen or fails, then I'm afraid for the club I love that they've got to come out of the Premier League. This is beyond awful."