Manchester City have won their appeal against disqualification from the Champions League up held.
The Court of Arbitration for Sport have announced that they will play in the Champions League next season
The club were punished by UEFA in February for alleged breaches of club licensing and financial fair play regulations being handed a two-year ban from the competition and a 30 million euros, £24.9million fine
Manchester City denied any wrongdoing, and their appeal was heard by the CAS across three days last month.
In a statement just released the club have said:
‘Whilst Manchester City and its legal advisors are yet to review the full ruling by the Court of Arbitration for Sport (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. The Club wishes to thank the panel members for their diligence and the due process that they administered.’
UEFA have issued the following statement
“UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by UEFA’s independent Club Financial Control Body for alleged breaches of the UEFA Club Licensing and Financial Fair Play regulations.
“UEFA notes that the CAS panel found that there was 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 due to the five-year time period foreseen in the UEFA regulations.
“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 ECA remain committed to its principles. UEFA will be making no further comments on the matter.”