English champions, Manchester City has been axed from participating in the UEFA Champions league and other UEFA related competitions for two years for breaching the “Financial Fair Play”.
The ban would take effect from the 2020/2021 and 2021/2022 season.
However, the club has since announced that it would appeal the verdict.
Also, the club is liable to a fine of €30 million ($32.5 million).
The club said in a statement that it was “disappointed, but not surprised” by the decision, announcing its intention to appeal at the Court of Arbitration for Sport, and saying the investigator, Belgian former Prime Minister Yves Leterme, always intended to sanction City.
“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’s statement said. City also lodged a formal complaint with UEFA.