Reigning English champions Manchester City have been banned from European competitions for the next two seasons for “serious financial fair-play breaches”, UEFA announced on Friday.
The Premier League side say they are “disappointed but not surprised” by the decision and described it as “prejudicial”.
The English champions were also fined 30 million euros ($32.5 million), but can appeal the decision of UEFA’s adjudicatory chamber to the Court of Arbitration for Sport.
UEFA’s statement read: “The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016.
“The Adjudicatory Chamber has also found that in breach of the regulations the Club failed to cooperate in the investigation of this case by the CFCB.
“The Adjudicatory Chamber has imposed disciplinary measures on Manchester 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) and pay a fine of €30 million.”