LONDON: Manchester City will play in the Champions League next season after club’s two-year ban from European football competitions was lifted by the Court of Arbitration for Sport (CAS) today (Monday).
According to details, the Court of Arbitration for Sport announced that the club was cleared of disguising equity funds as sponsorship contributions.
Manchester City was originally punished by UEFA for serious breaches of club licensing and Financial Fair Play (FFP) regulations and was excluded from European competitions for two seasons.
The Court of Arbitration for Sport ruled today (Monday) that the club did not disguise equity funding as sponsorship contributions after City appealed the ruling in February.
However, it was decided that City had failed to cooperate with UEFA authorities and an original fine of 30 million euros ($34 million) has been reduced to 10 million ($11.3 million).
In this regard, City in a statement said, “Whilst Manchester City and its legal advisors are yet to review the full ruling by the 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.”
CLUB STATEMENT https://t.co/RlR33Vy2bI
— Manchester City (@ManCity) July 13, 2020
“The club wishes to thank the panel members for their diligence and the due process that they administered,” Manchester City added.
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