English champions Manchester City have been banned from the Champions League for the next two seasons by Uefa and fined €30m (£25m) after they were found to have seriously misled European football’s governing body and broken financial fair play rules.
The English champions were also slammed with a staggering €30 million fine after they were found guilty of breaking financial fair play rules.
The Citizens got into the hook of Club Financial Control Body (CFCB) following a discovery that it misled UEFA by increasing its sponsorship revenues when submitting accounts as part of the FFP compliance process.
In a verdict passed on Friday, February 14, it was revealed that a huge percentage of Man City's sponsorship was funded by City’s owner Sheikh Mansour bin Zayed Al Nahyan of the Abu Dhabi ruling family from his own purse.
From City shirt, stadium to the club's academy, the English champions were discovered to have been given financial backing by Sheikh Mansour instead of the club's revenue purse.
Meanwhile, the pronouncement means Pep Guardiola and his boys will not take part in any UEFA's elite competition from next season and would also be made to pay the heavy fine for deliberate breaching of the rules and code of conduct.
The scale of the ban utmostly reflects UEFA's strict position on offences bordering on breaking of the body's rules and regulation.
Man City have however denied wrongdoings in a statement released by the club after the judgement was delivered.
''This is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA,'' Man City said in an official reaction statement.
''With this prejudicial process now over, the club will pursue an impartial judgment as quickly as possible and will therefore, in the first instance, commence proceedings with the Court of Arbitration for Sport at the earliest opportunity.”
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