“Uefa takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by Uefa’s independent Club Financial Control Body for alleged breaches of the Uefa Club Licensing and Financial Fair Play regulations,” a statement by the European body said.
“Uefa notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the 5 year time period foreseen in the Uefa regulations,” the statement continued.
The decision is set to have a significant impact on the top four race, with a number of City rivals angling for a Champions League slot.
Chelsea, Man United and Leicester City are among the teams in a pole position to secure a spot in the European tournament.
Pep Guardiola’s team are already assured of a top-four place in the Premier League this season and they could add the FA Cup and the Champions League despite missing out on the domestic title.
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