Monday, 13 July 2020

Bad news for Chelsea, Man U, others as City will play in Europe next season.

Back in February, Manchester City were handed the suspension by UEFA's club financial control body for "serious breaches" of club licensing and financial fair play regulations.

 At that time, the independent Adjudicatory Chamber of UEFA's Club Financial Control Body (CFCB) found City guilty of "overstating its sponsorship revenue in its accounts and in the break-even information submitted to Uefa between 2012 and 2016".
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). The club vehemently denied any wrongdoing and appealed the decision at CAS last month. 
At 9:30 on Monday morning, the verdict from the three-day appeal hearing which took place in June was announced in the club's favour. They will now be allowed to play in the Champions League and pay a €10m reduced fine instead of the initial €30million they were handed. 
In a statement released by City after the ruling: “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.
-Curled from LIB.