Manchester City will play in the Champions League next season after the Court of Arbitration for Sport (CAS) lifted the club's two-year ban from European football.
UEFA's Club Financial Control Body (CFCB) handed over the city in February for "serious violations" of club licensing and financial fair play regulations.
The CFCB stated that the City had terminated sponsorship revenue between 2012 and 2016 by distorting information submitted to the UEFA and failing to cooperate with its investigation.
The Premier League club has denied any wrongdoing and appealed the decision to Cos last month, calling the UEFA disciplinary process "biased".
After hearing evidence over a three-day period in June, CAS now lifted the suspension and reduced Citi's initial € 30 million to 10 10m (£ 8.96m), which was largely not established or timed after it was found to be "alleged violations".
A statement from COS reads: "The MCFC's ban on co - failure to participate in UEFA's club competitions is a far more important violation than allegations that the allegations against the honesty of equity funds obstruct the CFCB's investigation.
"However, i) consider the financial resources of the MCFC; ii) the importance of clubs' cooperation in research conducted by the CFCB, as it has limited research tools, and iii) the panel's observation that the MCFC ignores such a theory and interferes with research; It would be appropriate to reduce the fine to 2/3, which is EUR 10 million. "
The city is a ‘welcome’ regime
City is now free to compete in the Champions League next season, finishing second in the Premier League with a 5-0 win over Brighton on Saturday.
The Premier League club welcomed the decision: "Manchester City and its legal advisers have not yet reviewed the full decision of the Court of Arbitration for Sport (CAS). Today we welcome the implications of the club's decision. The status and evidence of the certification club could be presented.
"The club would like to thank the panel members for their attention and the process they set up."
The city is still in Champions League competition this year - and won 2–1 over Real Madrid in their last-16 match before football was halted due to the coronavirus epidemic.
UEFA 'Fair Commit to Financial Fair Play'
Despite the ruling, the UEFA said that I and the European Club Association "adhered to" the principles of financial fair play.
"UEFA observes the decision of the Court of Arbitration of Sport to reduce the approval imposed by the UEFA's independent financial control body on Manchester City for violating UEFA club licensing and financial fair play regulations."
"The CAS panel found that there was insufficient evidence to substantiate all of the CFCB's results in this particular case, and the UEFA stated that it had excluded several violations of the UEFA regulations over a five - year period.
"Over the years, the financial fair play has played a key role in protecting clubs and sustaining them financially, and UEFA and ECA have adhered to its principles."
Can UEFA appeal to the CAS ruling?
Sports Attorney Daniel Gia said the UEFA CAS decision could be appealed to the Swiss Federal Tribunal, but that the decision was unlikely to be overturned.
"It's relevant in sports, but the reasons for appealing those decisions are very narrow, usually based on policy flexibility, jurisdiction or public policy," he told Sky Sports News.
"Right now, it's a huge win for Manchester City."
It was a fantastic win for Manchester City. If you are a city supporter, this is great news. If you’re Pep Guardiola, that’s great news.
They did not win the case completely as they were still being fined but Cass decided the punishment was too harsh.
As far as UEFA is concerned, these financial fair play rules are here, but if you look at the incredible success of Manchester City, it means that you are going to question the future of financial fair play. Is there more trouble than its value?
We have seen a lot of these cases dragged into the Court of Arbitration for Sport, you have to go back to the UEFA drawing board and ask if it is time to review the rules.
"Right now, it's a huge win for Manchester City."
It was a fantastic win for Manchester City. If you are a city supporter, this is great news. If you’re Pep Guardiola, that’s great news.
They did not win the case completely as they were still being fined but Cass decided the punishment was too harsh.
As far as UEFA is concerned, these financial fair play rules are here, but if you look at the incredible success of Manchester City, it means that you are going to question the future of financial fair play. Is there more trouble than its value?
We have seen a lot of these cases dragged into the Court of Arbitration for Sport, you have to go back to the UEFA drawing board and ask if it is time to review the rules.
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