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Manchester City have been banned from UEFA club competitions—the Champions and Europa Leagues—for two seasons and fined €30 million (£24.9 million) after being found to have breached the European governing body's financial fair play (FFP) rules.
Rob Harris of the AP shared UEFA's full statement:
Rob Harris @RobHarrisFull details of Man City being banned from Champions League for TWO SEASONS for "serious breaches" of UEFA financial rules https://t.co/sYVG5orSRt
The news will be a severe blow to the Premier League champions, but Pep Guardiola's side are expected to appeal the decision to the Court of Arbitration for Sport, according to Martyn Ziegler at The Times.