I agree with this.
If they're found guilty, the only way to really punish them would effectively mean that they cease to exist as a club. Points deduction doesn't go remotely far enough, and even relegation to the Championship (or even as low down as League Two) would just be a case of them flying up the divisions until they're right back in the Premier League title picture.
A guilty verdict means ejecting the owners in a similar way to Abramovich at Chelsea, fining them an amount at least equivalent to all of the prize and TV money they've benefitted from, stripping them of everything they've won, and ousting them from the Premier League, forcing them to go begging to the Football League, National League, etc. for a place somewhere in the pyramid.