Manchester City
have been fined €60 million [£49m] by Uefa and will see their squad
reduced to 21 players for next season’s Champions League for breaching
Financial Fair Play regulations.
The club's €60m fine will be
withheld from the Champions League revenue generated from this season
and next term, while €40m [£32.5m] has been suspended and will be
returned to City if they comply with the financial measures set by Uefa.
City,
who have accepted the sanctions from Uefa, have also agreed to
"significantly limit spending in the transfer market for seasons
2014/2015 and 2015/2016" and will limit their net spend in this summer's
window to €60m.
City insist the spending limit on new players "will have no material impact on the club’s planned transfer activity".
Despite
posting figures outside the financial regulations, City maintain their
wage bill will remain the same next season but claim there will be a
“natural decline” after that period.
City revealed in a statement that they are now break even and will be profitable next season.
Uefa
confirms that if the club meet their break-even target, the 21-man
squad restriction will be lifted for the 2015/16 campaign.
Goal.com
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