City back down and accept record £50m FFP fine
Manchester City have accepted a world-record £50m fine from Uefa after their £1bn spending spree under Sheikh Mansour bin Zayed al Nahyan was shown to breach its Financial Fair Play regulations.
The Premier League champions ended their fight against the biggest penalty ever imposed on a sports team, and a cut in next season's Champions League squad from 25 to 21 players, by agreeing a 'settlement' offer with European football's Club Financial Control Body.
The deal ends a tense stand-off between City and the CFCB's investigatory chamber over the sanction they should face for failing to comply with rules aimed at combating "greed, reckless spending and financial insanity".
The Manchester club threatened to fight to the bitter end to avoid their penalty by taking their case to the CFCB's adjudicatory chamber and beyond.
They were granted multiple extensions to the deadline for settling their case before eventually backing down, allowing Uefa to announce all nine clubs found guilty of FFP breaches had settled with the investigatory chamber. (© Daily Telegraph, London)