English Premier League side, Manchester City have been slammed with a season ban from European club competitions for the next two seasons over seriously breaching UEFA’s club licensing and financial fair play regulations.
The independent Adjudicatory Chamber of the Club Financial Control Body (CFCB) said City had broken the rules by “overstating its sponsorship revenue in its accounts and in the break-even information submitted to Uefa between 2012 and 2016”, adding that the club “failed to cooperate in the investigation”, report BBC Sports.
In November 2018, UEFA had launched an investigation after German newspaper Der Spiegel published leaked documents alleging City had inflated the value of a sponsorship deal, deliberately misleading European football’s governing body so they could meet FFP rules requiring clubs to break even. Man City was fined £49m in 2014 for the breach of regulations.
The reigning Premier League champions have also been fined 30m euros (£25m). The club says it will pursue an impartial judgment, as the decision is subject to appeal to the Court of Arbitration for Sport.