BREAKING NEWS: Man City's Champions League ban lifted by CAS

The Court of Arbitration for Sport has lifted Manchester City's two-season ban, clearing them to play in the Champions League next season.

Manchester City's two-season ban from UEFA competitions has been quashed by the Court of Arbitration for Sport (CAS).

Manchester City have successfully overturned their two-year ban from European club competitions.

The Court of Arbitration for Sport (Cas) announced the club were cleared of “disguising equity funds as sponsorship contributions” on Monday.

Uefa’s Club Financial Control Body (CFCB) issued the ban in February after ruling City had committed “serious breaches” of Financial Fair Play (FFP) regulations between 2012 and 2016.

City’s fine has been cut to 10m euros.

They were originally fined 30m euros (£26.9m).

In delivering the ruling, Cas said City did “fail to cooperate with the Uefa authorities” but overturned the decision by the CFCB.

City said the decision was “validation of the club’s position and the body of evidence that it was able to present”.

“The club wishes to thank the panel members for their diligence and the due process that they administered,” City added.