premier league side Manchester City, have been banned from European competition for the next two seasons and fined $32.53 million for “serious financial fair-play breaches (FFP) rules.”, by UEFA.
Man.City are accused of lying and falsely inflating their revenue from sponsorship deals when submitting their accounts to UEFA.
They will miss out on upwards of £170million because City earned £86m from the Champions League last season and so two years without being able to take part.
The Adjudicatory Chamber has imposed disciplinary measures on City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie. the 2020/21 and 2021/22 seasons).
FFP was formed by UEFA to prevent European clubs from spending more money than they make as income.
With FFP, European clubs stopped overspending on player wages, restricting the amount owners are able to use of their own cash to cover losses.
City only made £10m in profit for the season and so the ban is highly damaging
European football’s governing body said that City “failed to cooperate in the investigation”.
It is not the first time that Man City have fallen foul of FFP regulations, having been fined 60 million euros and seeing their Champions League squad reduced in May 2014.
City lost a previous appeal to CAS over UEFA’s original decision to refer them to its adjudicatory chamber over the alleged FFP violations.
The verdict passed by FIFA follows an investigation that after German magazine Der Spiegel “leaked” emails and documents in November 2018 alleging Man City owner Sheikh Mansour bin Zayed Al Nahyan was mostly funding the £67.5m-a-year sponsorship of the club’s shirts, stadium and academy via Etihad airline
City intended to appeal the decision to the Lausanne-based Court of Arbitration for Sport (CAS).