MOSCOW (Pakistan Point News / Sputnik - 15th February, 2020) UEFA on Friday announced the decision to ban Manchester City Football Club from participation in UEFA club competitions for two years and to fine the UK football club 30 million Euros ($32.5 million) for serious violations of UEFA financial fair play rules.
"Following a hearing held on 22 January 2020 the Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB), chaired by Jose da Cunha Rodrigues, has today notified Manchester City Football Club of the final decision on the case which was referred by the CFCB Chief Investigator," UEFA said in a statement posted on its website.
According to the statement, "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 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," the statement said.
