The club will certainly get a record fine after admitting failing to control their players at the end of last month's 0-0 draw, but if the bans imposed mean they would be without all five players for the same matches they will consider an appeal strategy.
Lauren and Keown will receive automatic three-match bans after pleading guilty to the charge of violent behaviour, while Cole, Vieira and Parlour are likely to escape with one-match suspensions after admitting improper conduct.
Parlour and Lauren face two and three charges respectively, but will not receive multiple punishments as the FA's disciplinary panel are asked to consider the totality of the incident and deliver a single sentence. West Ham's Rufus Brevett, for example, was last week fined £1,000 after he was found guilty by the FA of three charges of improper conduct.
Violent behaviour is almost always punished by a three-match ban, but the panel have more discretion when it comes to the lesser charge.
Sol Campbell was fined £20,000 last week for his challenge on Eric Djemba-Djemba in the Community Shield, whereas Roy Keane was banned for five games after being found guilty of two improper conduct charges last October.
Arsenal's hearing will take place at an as yet unknown location, while United, who have chosen to contest improper conduct charges given to Ryan Giggs and Cristiano Ronaldo, face the FA on 31 October.
Arsenal have the right to appeal against any sentence and may take advantage of the 14 days' grace an appeal brings to ensure that all their players are not suspended at the same time.
If the club accept the punishment, Wenger will be without all five at Leeds and without three of them against Spurs and Birmingham.
Wenger could limit his appeals to just two of the players and so spread the matches for which he has various players available.
Meanwhile, the FA announced today that Sir Alex Ferguson's misconduct hearing for alleged use of insulting language to a match official during United's game at Newcastle in August will be held on 20 October.
Sunderland have accepted a compensation package from United for striker David Bellion, which includes an initial £2million guaranteed fee payable immediately.
The package also includes further payments worth up to £1m, depending on appearances and international call-ups. A sell-on clause has also been negotiated.
