In a major announcement on Friday, UEFA banned Manchester City from all European competitions for the next two years. The ban came as a result of "serious financial fair-play breaches," as mentioned by the UEFA authorities. However, the decision was immediately contested by the Man City manager Pep Guardiola and his men.
Apart from the 2-year ban, a fine worth 30 million euros ($32.5 million), has also been imposed on the team. Reacting to the news of the ban, the team and officials said that they would be approaching the Court of Arbitration for Sport (CAS) at the earliest possible to contest the suspension and fine imposed.
Announcing the ban, a UEFA statement declared: "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)."
The governing authority for European football was found saying that the team "failed to cooperate in the investigation".
"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," European football's governing body said.
The club was seen mentioning that the case is initiated, prosecuted and judged by UEFA only. Thus, they will now seek proceedings with the Court of Arbitration for Sport as soon as possible.