Tebas is unhappy by the decision to reduce Man City's two-year sanction for breaking Financial Fair Play rules to merely an £8.9million fine.
Pep Guardiola's side will now be allowed to take part in next season's Champions League and eligible for the following year's UEFA competitions.
Tebas, who has overseen the Spanish league since 2013, has questioned the role of the Court of Arbitration for Sport (CAS) in making such significant rulings.
He barked: “We have to reassess whether the CAS is the appropriate body to which to appeal institutional decisions in football."
The La Liga boss went on to suggest that the Swiss courts be put in charge of sports legal cases.
He said: “Switzerland is a country with a great history of arbitration, the CAS is not up to standard."
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