The Court of Arbitration for Sport [CAS] has upheld Manchester City’s appeal against their two-year ban from European competitions.

This means that the English Premier League club quest to chase for the Europe’s elite gong this year continue unabated as they face Real Madrid in the elimination stage next month at the Etihad.

CAS’s verdict read: “The CAS award emphasised that most of the alleged breaches reported by the Adjudicatory Chamber of the UEFA Club Financial Control Body [CFCB] were either not established or time-barred.

“As the charges with respect to any dishonest concealment of equity funding were clearly more significant violations than obstructing the CFCB’s investigations, it was not appropriate to impose a ban on participating in UEFA’s club competitions for MCFC’s failure to cooperate with the CFCB’s investigations alone.

“However, considering i) the financial resources of MCFC; ii) the importance of the cooperation of clubs in investigations conducted by the CFCB, because of its limited investigative means; and iii) MCFC’s disregard of such principle and its obstruction of the investigations, the CAS panel found that a significant fine should be imposed on MCFC and considered it appropriate to reduce UEFA’s initial fine by two-thirds, i.e. to the amount of EUR 10 million.”

Meanwhile, Manchester City have applauded the pane that sat on the case.

“Whilst Manchester City and its legal advisors are yet to review the full ruling by the Court of Arbitration for Sport (CAS), the Club welcomes the implications of today’s ruling as a validation of the Club’s position and the body of evidence that it was able to present,” a statement from the club read.

“The Club wishes to thank the panel members for their diligence and the due process that they administered,” it adds.

Read the CAS statement on the verdict below: