Manchester City essentially face three outcomes: their appeal fails and they are banned for two years, they get a reduction to one year, or they get no ban at all.

Kevin De Bruyne, City’s midfield talisman, said in May that he would consider his future if the ban is upheld, although reports in Belgium in recent days suggested the player was happy at the club and would not agitate for a move. Raheem Sterling, who has attracted interest from Real Madrid, may assess his options.

A one year ban is far less likely to cause the club’s top players to seek an exit from Manchester, a two year ban on the other hand could certainly turn some heads.

Wolves and Sheffield United, could see their chances of making it into the Champions League improve.

BREAKING: Manchester City win appeal and Champions League ban lifted

City will play in the Champions League next season.

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. The Club wishes to thank the panel members for their diligence and the due process that they administered.

UEFA’s statement:

UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by UEFA’s independent Club Financial Control Body for alleged breaches of the UEFA Club Licensing and Financial Fair Play regulations.

UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the 5 year time period foreseen in the UEFA regulations.

Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles.

UEFA will be making no further comments on the matter

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