Manchester City’s two-season European ban has been lifted by the Court of Arbitration for Sport.
UEFA’s club financial control body (CFCB) sanctioned City in February for what it said was a breach of its Financial Fair Play (FFP) and club licensing regulations.
The CFCB said City had overstated sponsorship revenue in their accounts and in the break-even information submitted to UEFA between 2012 and 2016, and for failing to co-operate with its investigation.
City immediately signaled their intention to appeal, and CAS has now cleared them to compete in the Champions League next season and reduced a £30m euro fine to 10m euros (just under £9million).
City issued a statement welcoming “the implications” of the ruling.
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.