Manchester City have European ban lifted, fine reduced by CAS
(dpa)
London - Manchester City's two-year European ban by the ruling body UEFA for Financial Fair Play violations has been lifted by the Court of Arbitration for Sport (CAS).
City were handed the ban and fined 30 million Euros (34 million dollars) by UEFA in February for "serious breaches" of its Financial Fair Play (FFP) rules. UEFA said City had overstated sponsorship revenue between 2012 and 2016 after it investigated financial documents leaked by German publication Der Spiegel in November 2018, and failed to cooperate with the investigation.
A three-day videoconference hearing was held last month, and CAS now ruled that City "did not disguise equity funding as sponsorship contributions but did fail to cooperate with the UEFA authorities."
As a result, the fine was maintained but reduced to 10 million euros. The CAS said the full verdict would be published within the next
A three-day videoconference hearing was held last month, and CAS now ruled that City "did not disguise equity funding as sponsorship contributions but did fail to cooperate with the UEFA authorities."
As a result, the fine was maintained but reduced to 10 million euros. The CAS said the full verdict would be published within the next