Manchester City committed “serious breaches of the UEFA club licensing and financial fair play regulations” between 2012-16, the UEFA Ajudicatory Chamber found in its investigation.
Man City will be banned from Champions League play and other UEFA competitions for the next two years as a result. They were also levied a £30 million fine.
According to the league’s governing body, the club overstated its sponsorship revenue in its accounts and in the break-even submitted to UEFA in that time period. The body also accused the team of not cooperating in the investigation.
“Manchester City is disappointed but not surprised by today’s announcement by the UEFA Adjudicatory Chamber,” the team said in a statement Friday. “The Club has always anticipated the ultimate need to seek out an independent body and process to impartially consider the comprehensive body of irrefutable evidence in support of its position.”
The team is going to appeal the decision in the Court of Arbitration for Sport.
“Simply put, this is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA,” the statement read. “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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