But CAS ruled on Monday that the club “did not disguise the financing of equity as sponsorship contributions” after City claimed the ruling in February.
However, it was decided that the city would not have been able to cooperate with UEFA authorities and has been reduced to an original fine of € 30 million ($ 34 million) to € 10 million ($ 11.3 million). .
“While Manchester City and their legal advisers have yet to review CAS’s full ruling, the club welcomes the implications of today’s ruling as a validation of the club’s position and the body of evidence it was able to present.” , said a City statement.
“The club would like to thank their diligence and due process administered by the members of the group.”
FFP rules State clubs can only lose $ 32 million in three seasons, otherwise they can be penalized or sanctioned.
The city was bought by Abu Dhabi owners in 2008 and has since invested heavily in player transfers, transforming the club into one of the dominant forces in English football over the last decade.
The Champions League, the richest competition in European football, is the only major trophy to elude manager Pep Guardiola, who took over in 2016, during his time at City. The club has never won the European Cup
When the punishment was announced on February 14, the city called the UEFA process a “failure” and filed an appeal later that month.
“UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by the UEFA Club’s independent financial control body for alleged breaches of UEFA Club Licensing regulations and Fair Play, “said a statement from the governing body.
“UEFA notes that the CAS staff found that there was insufficient conclusive evidence to defend all the findings of the CFCB (Club Financial Control Body) in this particular case and that many of the alleged breaches were prescribed due to the five-year period. provided for in UEFA regulations.
“Over the last few years, Financial Fair Play has played an important role in protecting clubs and helping them become financially sustainable and UEFA and the ECA remain committed to their principles.”
The uncertain future of the FFP
The decision has led to questions about UEFA’s FFP regulations aimed at preventing club spending.
An investigation in the French side of Paris Saint-Germain with Qatari support to determine whether the club had breached FFP regulations was concluded last year when CAS upheld PSG’s appeal against the case. .
“It’s hard to see how UEFA’s FFP rules can survive this,” replied Girona international Gary Lineker, who responded to the city’s verdict.
“In fact, can UEFA survive the ramifications?”
In this season’s competition, City face Real Madrid next month in the qualifiers after beating Los Blancos 2-1 in the first leg.
The winner of this tie will face Lyon or Juventus in the quarterfinals, from where the tie will be played in Lisbon, Portugal, for a single round.