Manchester City have been banned from Uefa competition for two years and fined €30 million following serious breaches of Financial Fair Play regulations.
The decision comes following a hearing of the Adjudicatory Chamber of the Uefa Club Financial Control Body on the 22nd of January.
A statement from Uefa said that having considered all the evidence it found that Manchester City committed serious breaches of the Uefa Club Licensing and Financial Fair Play regulations.
“The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City committed serious breaches of the Uefa 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 statement added that, against regulations, Manchester City did not cooperate with the CFCB's investigation.
The ban will come into effect from the end of this season, banning Manchester City from Uefa competition in 2020/21 and 2021/22.
In a statement from the club, Manchester City responded to the punishment and indicated they would appeal the judgement:
"Manchester City is disappointed but not surprised by today's announcement by the UEFA Adjudicatory Chamber.
"The Club has always anticipated the ultimate need to seek out an independent body and process to impartially consider the comprehensive body of irrefutable evidence in support of its position.
"In December 2018, the UEFA Chief Investigator publicly previewed the outcome and sanction he intended to be delivered to Manchester City, before any investigation had even begun.
"The subsequent flawed and consistently leaked UEFA process he oversaw has meant that there was little doubt in the result that he would deliver.
"The Club has formally complained to the UEFA Disciplinary body, a complaint which was validated by a CAS ruling.
"Simply put, this is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA.
"With this prejudicial process now over, the Club will pursue an impartial judgment as quickly as possible and will, therefore, in the first instance, commence proceedings with the Court of Arbitration for Sport at the earliest opportunity."