The current EPL title holder, #ManchesterCity have been banned from UEFA club competitions for the next two seasons and fined 30million euros (£24.9million) after being found to have committed “serious breaches” of financial regulations.
The current EPL champions overstated sponsorship revenue in accounts submitted between 2012 and 2016, according to European football’s governing body.
The decision of the Adjudicatory Chamber of the Club Financial Control Body (CFCB) is subject to appeal to the Court of Arbitration for Sport (CAS).
“The Adjudicatory Chamber, having considered all the evidence, has found that #ManchesterCity Football Club committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016,” read a UEFA statement.
“The Adjudicatory Chamber has imposed disciplinary measures on #Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie: the 2020/21 and 2021/22 seasons) and pay a fine of 30 million euros.”
City said they are “disappointed but not surprised” by UEFA’s announcement and will appeal against the punishment to CAS.
“#ManchesterCity is disappointed but not surprised by today’s announcement by the UEFA Adjudicatory Chamber,” read a club statement.
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