Manchester City will be able to play in next season’s Champions League. After their two-year ban from UEFA competitions was lifted by the Court of Arbitration for Sport (CAS).
However, the club will still have to pay a fine, which has been reduced from €30 million to €10 million.
Also, City were initially punished by UEFA in February 2020. When they were banned from competing in the Champions League or Europa League for two years and given a €30m fine for breaching Financial Fair Play rules.
In its initial statement confirming City’s punishment. UEFA said that it found the Premier League club guilty of “overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016.”
A statement from the CAS said City did not overstate their sponsorship contributions. But did fail to cooperate with UEFA authorities.
“Manchester City FC did not disguise equity funding as sponsorship contributions but did fail to cooperate with the UEFA authorities,” read the heading to the CAS statement.
City responded to the verdict with a statement which read. “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.”
The ruling also has an impact on the clubs currently below City in the Premier League table.