By Jack Kinnersley For Mailonline
Published: 20:11 GMT, 14 February 2020 | Updated: 20:11 GMT, 14 February 2020
Manchester City have been banned from UEFA club competitions for the next two seasons and fined 30million euros (£24.9million) after being found to have committed 'serious breaches' of financial regulations.
The reigning Premier League champions overstated sponsorship revenue in accounts submitted between 2012 and 2016, according to European football's governing body.
Sportsmail looks at the key questions facing Pep Guardiola's side and the rest of the Premier League.
Manchester City have been banned from UEFA club competitions for the next two seasons
European football's governing body say City have made 'serious breaches' of their club licensing and Financial Fair Play regulations which they committed by 'overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016'.
UEFA also said City failed to co-operate with an investigation into the matter launched by its Club Financial Control Body.
Uefa launched a probe after documents obtained by a hacker and published in German media suggested the club had falsely inflated sponsorship deals with firms with firms linked to their Abu Dhabi ownership in an alleged attempt to circumvent Uefa's FFP rules.Are they going to appeal?
City have reacted furiously to the development and say they will appeal to the Court of Arbitration for Sport (CAS).
A searing statement released by the club said: '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.'
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:
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.'
As noted by