Manchester City’s two-year ban from European club competitions was overturned on Monday following a successful appeal lodged at the Court of Arbitration for Sport (CAS).
CAS said that City was acquitted of “disguising equity funds as sponsorship contributions” and also reduced City’s fine to £10 million.
In February, Manchester City were banned from all UEFA competitions for the next two seasons and fined £24.9 million for “serious breaches” of UEFA’s Financial Fair Play and club licensing regulations.
UEFA said that City overstated its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016.
City was also found guilty of “failing to cooperate in the investigation by the Club Financial Control Body (CFCB), a charge which CAS agreed with despite overturning the ruling.
City, which has consistently denied any wrongdoing, filed an appeal against the decision in June.
City’s successful appeal means that they will play in next season’s Champions League having confirmed a second place finish in the English Premier League.
More to follow…
