Manchester City have been banned from the lucrative Champions League for the next two seasons and fined £25 million after they were found to have misled UEFA and broken financial fair play rules.

Manchester City were found to have “committed serious breaches” of the UEFA Club Licensing and Financial Fair Play Regulations.

“UEFA takes note of the decision of the independent Adjudicatory Chamber of the Club Financial Control Body (CFCB), issued today, which included the following summary of its content and effect to be announced as required by the Procedural Rules governing the CFCB,” said UEFA.

The ruling read: “Following a hearing held on 22 January 2020 the Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB), chaired by José da Cunha Rodrigues, has today notified Manchester City Football Club of the final decision on the case which was referred by the CFCB Chief Investigator.

“The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the UEFA Club Licensing and 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 Adjudicatory Chamber has also found that in breach of the regulations the Club failed to cooperate in the investigation of this case by the CFCB.

“The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie. the 2020/21 and 2021/22 seasons) and pay a fine of €30 million.

“The decision of the Adjudicatory Chamber is subject to appeal to the Court of Arbitration for Sport (CAS).

” If Manchester City Football Club exercises that right the full reasoned decision of the Adjudicatory Chamber will not be published prior to publication of the final award by the CAS.”

UEFA added: “As noted by the Adjudicatory Chamber, the club has the right to appeal this decision to the Court of Arbitration for Sport. Therefore, UEFA will not be commenting further on this decision at this stage.”

The Abu Dhabi United Group, the investment vehicle owned by Sheikh Mansour bin Zayed Al Nahyan, is the majority owner of the City Football Group, with a stake of around 77%.

The City Football Group includes Man City and owns or part-owns New York City FC, Melbourne City FC, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain and Sichuan Jiuniu FC in China.

Manchester City said it will fight the decision. 

“Simply put, this is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA,” the club said.

“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.”

The club added: “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.”