Manchester City is back to UEFA Champions League fold. The Court of Arbitration for sports has overturned the ban imposed on the club for alleged breach of Financial Fair Play regulations.
UEFA, the governing body for football in Europe, in February had imposed a two-year ban on the club. Manchester City had gone into appeal in the International Court of Arbitration for Sports against the UEFA verdict for alleged “serious” breaches of licensing and financial fair play regulations.
Manchester City had dismissed the probe as “flawed” and “prejudicial” and gone into appeal at the CAS, which while lifting the ban today (Monday) also imposed a penalty on the club.
Welcoming the decision an upbeat Manchester City has issued a statement. “Whilst Manchester City and its legal advisers 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,” read the statement.
An adverse verdict in the Court of Arbitration would have jeopardised City’s project under Pep Guardiola and also put at stake the status of the manager and several top players.
The Court has, however, imposed a penalty on the club. “MCFC (Manchester City Football Club) has contravened Article 56 of the Club Licensing and Financial Fair Play Regulations. MCFC shall pay a fine of €10,000,000 to the UEFA, within 30 days as from the date of issuance of the arbitral award,” read the order, while setting aside the verdict of the UEFA Club Financial Control Body’s Adjudicatory Chamber.
The CAS award emphasized that most of the alleged breaches reported by the Adjudicatory Chamber of the CFCB were either not established or time-barred.