Does this mean they will have their National championship revoked?
Revoked by who? The NCAA can’t tell a girl from a boy.
As the NCAA does not sanction or run the College Football Playoffs at the the D1 FBS level,I do not believe the NCAA has the power to take that away.
As to other possible penalties for Michigan, I really would be surprised if they are severe. First of all the power of the NCAA has been riddled by the courts. Second, network tv money will not want to see a blue blood crippled. Bad for ratings.
Finally, the only way order will be returned to college football is declaring the players to be employees, allow them to unionize, then a binding collective bargaining agreement can be negotiated setting rules for eligibility, transfers and NIL. Until then, the only rule us there are no rules.