Manchester City have successfully had their two-year ban from all UEFA competitions overturned, the Court of Arbitration for Sport [CAS] has announced.
City were facing two seasons away from the UEFA Champions League and UEFA Europa League after being found to have breached UEFA's club licensing and financial fair play regulations.
City, right from the very outset, had vigorously denied any wrongdoing and their appeal against the punishment was heard over three days by the Court of Arbitration for Sport last month.
After listening to the evidence, CAS have now overturned the suspension, meaning City are free to compete in next season's Champions League without any fuss.
A statement released by UEFA said: "UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by UEFA’s independent Club Financial Control Body for alleged breaches of the UEFA Club Licensing and Financial Fair Play regulations.
"UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the 5 year time period foreseen in the UEFA regulations.
"Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles.
"UEFA will be making no further comments on the matter."
