Manchester City’s two-year ban from the Champions League for a serious breach of Uefa’s financial fair play rules has been overturned by the court of arbitration for sport.
(African Stand) — Some good news rolled in this morning for the blue side of Manchester, as Man City have announced that their ban from European football has been successfully lifted.
The club had been banned from European competitions by Uefa in February for two years, amidst allegations they were “disguising equity funds as sponsorship contributions” between 2012 and 2016.
The Court of Arbitration for Sport (Cas) has now announced that they have been cleared of the charges, with their 30m euro fine being cut down to 10m euros as well.
In a statement, City said the decision was “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.”
Uefa agreed that the report found “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.
“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 the European Club Association remain committed to its principles,” they added.