Manchester City’s financial charade has finally caught up to them as UEFA dropped a Champions League ban on them.
Pep Guardiola’s team are set to miss the elite European competition for the next two seasons in a row. They have also been fined €30m by “committing serious breaches of UEFA Licensing and Financial Fair Play regulations by overstating their sponsorship revenue in their accounts”.
The Adjudicatory Chamber of the Club Financial Control Body revealed their decision on Friday night and even accused City of not co-operating with the investigation. With that said, the Etihad-based outfit will understandably appeal this ruling to the Court of Arbitration for Sport.
Of course, this could be the biggest blow to the Premier League club, who has turned into a European giant after their takeover by Sheikh Mansour. Winning the Champions League is their ultimate goal this season but missing out on it entirely could prove to be damaging to their future operations.
City, by no means, are struggling financially but Champions League football does formulate a major part of the club’s revenue. They have also accumulated a squad of top-grade players to chase multiple trophies each season. There are also several questions about whether City will be allowed to take part in the Europa League instead.
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