The Union of European Soccer Associations (UEFA) declared on Friday it has banned Manchester Metropolis from European competitions for 2 seasons for “severe breaches” of monetary laws.

The membership, final yr’s champion of the English Premier League, was additionally fined 30 million euros ($33 million) by UEFA. The group declared that the membership “dedicated severe breaches” of UEFA’s licensing guidelines and Monetary Truthful Play Rules, together with “overstating its sponsorship income in its accounts” for 5 years.

Manchester Metropolis, also referred to as “Man Metropolis,” has the best to enchantment the ban.

“Manchester Metropolis is disillusioned however not stunned by right this moment’s announcement by the UEFA Adjudicatory Chamber,” the membership mentioned in a press release.

The membership additionally sharply criticized UEFA’s investigative course of in its assertion, saying the method was “flawed and persistently leaked,” so “there was little doubt within the consequence.”

UEFA’s ruling would forestall Man Metropolis from taking part in in any European tournaments till the 2022-2023 season. The membership is presently competing in UEFA’s Champions League, which is the best profile match in skilled soccer, and second total to solely the World Cup.

Man Metropolis is estimated to be the fifth most precious soccer (soccer) staff on this planet at $2.7 billion, in response to Forbes in 2019. The membership is owned by Metropolis Soccer Group, a holding firm of Abu Dhabi United Group, which is a personal fairness agency owned by Sheikh Mansour bin Zayed Al Nahyan, the deputy prime minister of the United Arab Emirates and member of the Abu Dhabi royal household.

Sheikh Mansour, price an estimated $22 billion, is the half brother of UAE President Khalifa bin Zayed Al Nahyan.

Mansour purchased Man Metropolis in 2008 for a reported £210 million — or roughly $273 million primarily based on present change charges. In complete, Mansour has invested greater than $1.7 billion into the membership, in response to the Guardian.

Man Metropolis has been persistently one of many prime spenders among the many rich English golf equipment, shelling out lots of of thousands and thousands of {dollars} to construct a global roster of celebrity gamers. Metropolis’s supervisor Pep Guardiola can be the best paid supervisor on this planet, in response to beIN Sports activities, with a contract for $25 million a yr.

Metropolis Soccer Group in November offered a ten% stake to U.S. personal fairness agency Silver Lake, which BBC reported gave Mansour’s holding firm a $4.8 billion valuation.