Reports reaching National Daily reveal that Manchester City have finally won their fight against UEFA ban as their potential two-year ban from the Champions League has been overturned on appeal by the Court of Arbitration for Sport (CAS).
The Etihad Club was in February found guilty of “overstating its sponsorship revenue in its accounts and in the break-even information submitted to Uefa between 2012 and 2016” by the independent Adjudicatory Chamber of UEFA’s Club Financial Control Body (CFCB) National Daily reported previously.
The findings also noted that City “failed to cooperate in the investigation” and ruled that the club should be banned from European football for the next two seasons and fined €30million (£26.9million).
Meanwhile, City claimed they had not received a fair hearing and took an appeal to the CAS.
And luckily for the Sky Blues, their appeal which took place in June was announced after three-day appeal hearing at 9:30 on Monday with the CAS siding with City. The verdict therefore means that the Etihad Club will now be allowed to play in the Champions League and have seen their €30million fine reduced to just €10m National Daily further gathered.
A City statement 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.”
A UEFA statement remarked: “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 5 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.”
While the decision will come as a relief for the City on and off the pitch, it has ended up heightening the fight for the top four finish between Chelsea, Leicester City and Manchester United who are occupying the third, fourth and fifth positions respectively. United however could go leapfrog both Chelsea and Leicester into third position with a win against Southampton at Old Trafford on Monday night.