Manchester City will feature in next season’s UEFA Champions League as the Court of Arbitration for Sport (CAS) has lifted their two-year ban on European football.
City were handed a two-year suspension from European football by the UEFA club financial control body (CFCB) in February for “serious breaches” of club licensing and financial fairplay regulations.
Manchester City according to the CFCB overstated their sponsorship revenue in their accounts and in the break-even information they submitted to UEFA between 2012 and 2016, and also failed to co-operate with its investigation.
“However, considering i) the financial resources of MCFC; ii) the importance of the cooperation of clubs in investigations conducted by the CFCB, because of its limited investigative means; and iii) MCFC’s disregard of such principle and its obstruction of the investigations, the CAS Panel found that a significant fine should be imposed on MCFC and considered it appropriate to reduce UEFA’s initial fine by 2/3, i.e. to the amount of EUR 10 million.”
A statement from the Premier League club read: “Whilst Manchester City and its legal advisors are yet to review the full ruling by the Court of Arbitration for Sport (CAS), the club welcomes the implications of today’s ruling as a validation of the club’s position and the body of evidence that it was able to present.”The club wishes to thank the panel members for their diligence and the due process that they administered.”
UEFA after the verdict has assured that both itself and the European Club Association remain committed to the principles of Financial Fairplay.
“UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City by UEFA’s independent club financial control body for alleged breaches of the UEFA club licensing and Financial Fair Play regulations,” read UEFA’s statement.
“UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the five-year time period foreseen in the UEFA regulations.
“Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles.”