The verdict is in for Man City's appeal against the European ban imposed by UEFA regarding alleged Financial Fair Play breaches. The Court of Arbitration for Sport has ruled in favor of the Citizens, lifting the two-year sanction they were handed back in February.
The verdict arrived in the early hours of Monday. The CAS panel stated, after a three-day hearing, that there was insufficient conclusive evidence to uphold the Adjudicatory Chamber of UEFA's Club Financial Control Body's conclusion that the EPL giants were guilty of "overstating its sponsorship revenue". Additionally, the CAS added that the alleged breaches were time-barred due to the 5 year time period foreseen in the UEFA regulations. This means that even if Man City were proven to have breached the rules, the statute of limitations had expired.
The English giants were also handed a fine by UEFA and while the Court of Arbitration for Sport upheld this punishment, they decreased the penalization from $34M (€30M) to approximately $11M (€10M). Shortly after the CAS ruling, the Citizens released a statement, hailing the decision made regarding their appeal.
"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's statement read.
"The Club wishes to thank the panel members for their diligence and the due process that they administered."
CLUB STATEMENT https://t.co/RlR33Vy2bI
— Manchester City (@ManCity) July 13, 2020
Similarly, UEFA also released a statement, taking note of the CAS verdict while pledging their dedication to upholding the principles of the FFP regulations and holding teams accountable.
"Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles," European football's governing body said.
"UEFA will be making no further comments on the matter."
This means that Aguero and Co. are clear to participate in next season's Champions League. This is huge for last season's Premier League champions as several of their star players were being linked with an exit amid the possibility of no European football.
This decision will also have huge implications in the league as a fifth-place finish will not earn a team a ticket to UEFA's premier competition. This means one of Leicester, Chelsea, and Man United will miss out. The Red Devils appear to be the likeliest to finish in the top four based on form but nothing is certain as even sixth-placed Wolves are in the race.
