Manchester City has been banned from participating in the Uefa Champions League for two seasons for violating financial regulations.
They have also been fined €30 million for committing serious breaches of Uefa Licensing and Financial Fair Play regulations by overstating the sponsorship revenue in their accounts.
Uefa said in a statement: “Following a hearing held on 22 January 2020, the Adjudicatory chamber of the Uefa Club Financial Control Body (CFCB), chaired by Jose da Cunha Rodrigues, has today notified Manchester City Football Club of the decision on the case, which was referred by the CFCB Chief Investigator.”
“The adjudicatory chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the Uefa Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted between 2012 and 2016.
“The adjudicatory chamber has also found that in breach of the regulations the club failed to cooperate in the investigation of this case by the CFCB.
“The adjudicatory chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in Uefa club competitions in the next two seasons (that is the 2020/21 and 2021/22 seasons) and pay a fine of €30 million ($32.5 million).
“The decision of the adjudicatory chamber is subject to appeal to the Court of Arbitration for Sport (CAS). If Manchester City Football Club exercises that right the full reasoned decision of the adjudicatory chamber will not be published prior to publication of the final award by CAS,” read the statement.
Manchester City can appeal against the decision to the Court of Arbitration for Sport.