Manchester City will be playing in the Champions League next season after their two year ban has been reversed by the Court of Arbitration for Sport (CAS).
The EPL side was hit with a two-year suspension from all European competitions by Uefa after they were found guilty of breaching financial fair play regulations. The club launched an appeal at CAS and the judgement was delivered on Monday.
City’s fine has also been reduced from €30m to €10m.
CAS’s verdict read: “The CAS award emphasised that most of the alleged breaches reported by the Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB) were either not established or time-barred.
“As the charges with respect to any dishonest concealment of equity funding were clearly more significant violations than obstructing the CFCB’s investigations, it was not appropriate to impose a ban on participating in UEFA’s club competitions for MCFC’s failure to cooperate with the CFCB’s investigations alone.
“However, considering i) the financial resources of MCFC; ii) the importance of the cooperation of clubs in investigations conducted by the CFCB, because of its limited investigative means; and iii) MCFC’s disregard of such principle and its obstruction of the investigations, the CAS panel found that a significant fine should be imposed on MCFC and considered it appropriate to reduce UEFA’s initial fine by two-thirds, i.e. to the amount of EUR 10 million.”
UEFA say they will be making no further comments on the matter.