Man City’s ban from European football gets repealed
MANCHESTER (ENGLAND) – Manchester City’s two-year suspension from European football was repealed by the Court of Arbitration for Sport (CAS) on Monday. This would allow the club to take part in next season’s Champions League.
CAS ruled that City did not breach Financial Fair Play (FFP) rules under the guise of equity funding as sponsorship. Sport’s highest court also reduced a fine from 30 million euros to 10 million euros ($11.30 million) for failing to cooperate with UEFA.
“Most of the alleged breaches reported by the (UEFA) Adjudicatory Chamber of the CFCB (Club Financial Control Body)were either not established or time-barred,” CAS said in a statement.
UEFA, European soccer’s governing body, had ruled in February that serious FFP breaches have been committed by City, which also failed to cooperate with its investigation.
City, however, has denied any wrongdoing, and missing out on the Champions League would have cost as much as 100 million pounds ($126.02 million) in prize money and broadcast revenue, as well as matchday and other revenues.
The FFP regulations are designed to prevent clubs who have to face big losses by spending on players. They also make sure that sponsorship deals are made on grounds of their real market value. It is ensured that they are genuine commercial agreements, instead of becoming ways for owners to pump cash into a club to get around the rules.
CAS said its detailed legal ruling of the case and their decision would be published in the coming days.
“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,” City said in a statement.
The club added, “The Club wishes to thank the panel members for their diligence and the due process that they administered.”
UEFA added that it remained committed to FFP.
“UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the 5 year time period foreseen in the UEFA regulations.
“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 (European Club Association) remain committed to its principles.”
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.