Manchester City have successfully overturned their two-year ban from European club competitions.An initial fine of 30 million euros ($34 million, £27 million) was also reduced to 10 million euros on appeal.
After hearing evidence over the course of three days in June, CAS have now overturned the suspension – meaning City are free to compete in the Champions League next season.
City welcomed the decision that will have huge ramifications on the club’s finances and potentially the future of manager Pep Guardiola and star players such as Kevin De Bruyne and Raheem Sterling.”
Uefa launched an investigation after German newspaper Der Spiegel published leaked documents in November 2018 alleging City had inflated the value of a sponsorship deal, misleading European football’s governing body.
Reports alleged City – who have always denied wrongdoing – deliberately misled Uefa so they could meet FFP rules requiring clubs to break even.
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,” City said in a statement.
“The club wishes to thank the panel members for their diligence and the due process that they administered.”
“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,” UEFA said in a statement.
“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.”
Fast forward to the time, Uefa could appeal against the decision in the Swiss federal courts. It is unlikely that any such appeal would be heard before the 2020-21 Champions League starts.
