The verdict has sparked fury on Merseyside.
An approach to the Court of Arbitration for Sport is one possibility.
The CAS is based in Lausanne and specialises in stepping in to give rulings on sporting disputes.
Liverpool will wait for the written judgement of Paul Goulding QC, who headed the disciplinary commission, to discover the full reasons as to how the verdict was reached.
That could take until the end of January to arrive and, with 14 days to lodge an appeal from that date, the matter is certain to run and run.