Bailly was shown a straight red card in the 87th-minute of United's semifinal second leg game against Celta Vigo on May 11, and Europe's governing body has now issued a three-game ban.
Bailly was sent off at Old Trafford after raising his hand to John Guidetti's face, sparking a brawl which also saw Celta defender Facundo Roncaglia dismissed.
Derrick Rose leaning to Cavs over Lakers
Smith cited unnamed sources who said Irving believes that an irked James leaked the news that Irving wants to be traded. The Cavaliers are now in an interesting position, as they have a young star entering his prime years that wants out.
Bailly emerged as United's top option in central defence previous year, as he was the rock manager Jose Mourinho built his team around.
United's next European match is the Super Cup showpiece against Champions League winners Real Madrid on August 8 in Skopje, Macedonia.
The dismissal cost the Ivory Coast defender a chance to play in the Europa League final against Ajax Amsterdam, which counted as the first match of his suspension.