According to reports, Manchester United can be relegated from the Premier League after allegedly breaching financial regulations more than 100 times.

The reports of a 4-year investigation by the Premier League concluded that 6-time champions Manchester City have breached rules in the last 14 seasons, from 2009-10 to the present campaign. In case the charges are proven Man City can face a wide range of sanctions that includes their expulsion from the league.

A statement from the Premier League stated that by the rule of Premier League, league confirms that it has referred to many alleged breaches today of the Premier League rules by Manchester City Football Club to a Commission.
Potential sanctions range from being reprimanded to probably being relegated from the top flight. It isn't clear how swiftly the commission will return a judgment but under the rules of the Premier League Manchester City will not be able to appeal the decision to the CAS or Court of Arbitration of Sport.
Manchester City had been charged by UEFA for violating Financial Fair Play rules in 2020 and banned from their competitions for 2 years, but it had been overturned after an appeal had been made to CAS.
The probable sanctions are going to have a big impact on the rest of the clubs of the Premier League. Wolves are among those who will wait to see if Man City is indeed removed from the Premier League.
If City is expelled from the league this season, it can represent a considerable boost for Wolves and the remaining teams to fight relegation. Rather than 3 teams being relegated, just 2 teams are going to drop out of the Premier League in addition to Man City- who are presently second behind Arsenal.