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Manchester City have been banned from the Champions League and all other UEFA for two years after breaking Financial Fair Play rules.
City were found guilty by UEFA's Club Financial Control Body (CFCB) of having falsely inflated sponsorship revenues when submitting their FFP complacence process.
The investigation was started following 'leaked' emails and documents by German magazine Der Spiegel in November 2018.
In a statement, UEFA said the Premier League champions "overstated its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016".
"Following a hearing held on 22 January 2020 the Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB), chaired by José da Cunha Rodrigues, has today notified Manchester City Football Club of the final decision on the case which was referred by the CFCB Chief Investigator.
"The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016.
"The Adjudicatory Chamber has also found that in breach of the regulations the Club failed to cooperate in the investigation of this case by the CFCB.
"The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie. the 2020/21 and 2021/22 seasons) and pay a fine of € 30 million."
"Manchester City is disappointed but not surprised by today's announcement by the UEFA Adjudicatory Chamber.
"The Club has always anticipated the ultimate need to seek out an independent body and process to impartially consider the comprehensive body of irrefutable evidence in support of its position.
"In December 2018, the UEFA Chief Investigator publicly previewed the outcome and sanction he intended to be delivered to Manchester City, before any investigation had even begun.
Breaking - UEFA announce two year CL ban for Manchester City and 30m Euro fine. City sure to appeal to CAS
- Martyn Ziegler (@martynziegler) February 14, 2020
"The subsequent flawed and consistently leaked UEFA process he oversaw has meant that there was little doubt in the result that he would deliver. The Club has formally complained to the UEFA Disciplinary body, a complaint which was validated by a CAS ruling.
"Simply put, this is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA. With this prejudicial process now over, the Club will pursue an impartial judgment as quickly as possible and will therefore, in the first instance, commence proceedings with the Court of Arbitration for Sport at the earliest opportunity."
City will be absent from all UEFA competitions in the 2020/2021 and 2021/2022 seasons as a result.
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