Man City say they are “disappointed but not surprised” by verdict and will take case to Court of Arbitration for Sport.
Manchester City have been banned from all UEFA competitions for the next two seasons and fined £24.9m for “serious breaches” of UEFA’s Financial Fair Play and club licensing regulations.
An Adjudicatory Chamber of the Club Financial Control Body (CFCB) found the Premier League champions guilty of serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations.
In a statement, UEFA said City “overstated its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016”.
The club were also found guilty of “failing to cooperate in the investigation by the CFCB” and will be banned from Europe in the 2020/21 and 2021/22 seasons.