Football champions , Manchester City have been banned from UEFA club competitions for the next two seasons and fined £24.9m.
This is coming after they were being found to have committed “serious breaches” of financial regulations.
The ruling bans the Blues from the Championas League and other UEFA tournaments for the the 2020/21 and 2021/22 seasons.
According to UEFA, City overstated sponsorship revenue in accounts submitted between 2012 and 2016.
The club have said in a statement that they are “disappointed but not surprised” by UEFA’s announcement and will appeal against the punishment to CAS.
The decision of the Adjudicatory Chamber of the Club Financial Control Body (CFCB) is subject to appeal to the Court of Arbitration for Sport (CAS).
“The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016,” read a UEFA statement.
“The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie: the 2020/21 and 2021/22 seasons) and pay a fine of 30 million euros.”