Premier League football team, Manchester City have successfully overturned their two-year ban from European club competitions following a series of investigations.
The Court of Arbitration for Sport (CAS) this morning announced that the club would be cleared of ‘disguising equity funds as sponsorship contributions’ over the last seven years.
UEFA’s Club Financial Control Body (CFCB) issued the ban in February 2020 after ruling that the club had committed breaches of Financial Fair Play (FFP) regulations between 2012 and 2016.
City were originally fined c.£27m, but have now had that reduced to just c.£9m. The fine was reduced as the club was apparently only in violation of failing to co-operate with the investigation.
A statement from the club read: “The club wishes to thank the panel members for their diligence and the due process that they administered.”
Many fans are in an uproar over the decision, however, this will mean that the top four placed teams in the Premier League will now qualify for next season’s Champions League.