The Court of Arbitration for Sport (CAS) on Monday announce its decision over Manchester City’s Champions League ban.
City were charged by UEFA’s financial central body earlier this year for breaching club licensing and financial fair play regulations.
City have always vigorously denied any wrongdoing and their appeal against the decision was heard over three days by the Court of Arbitration in June.
News is breaking this morning confirming that City will remain in Europe’s top club competition, while their fine from the Court of Arbitration for Sport also reduced to just €10million.
On Monday, the Court of Arbitration for Sport released a statement, which read:
“UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by UEFA’s independent Club Financial Control Body for alleged breaches of the UEFA Club Licensing and Financial Fair Play regulations.”
” 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 5 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.”
Man City statement in full:
‘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.’
City are currently midway through their last-16 tie against Real Madrid, with Guardiola’s team 2-1 up from the first-leg in the Bernabeu back in February.
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