UEFA has banned Manchester City for the next two seasons for serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations.
According to the Association, Man City overstated its sponsorship revenue in its accounts and in the break-even information submitted to it between 2012 and 2016.
The Association said it had taken note of the decision of the Independent Adjudicatory Chamber of the Club Financial Control Body - CFCB, issued on Friday.
"Following a hearing held on January 22, 2020, the Adjudicatory Chamber of the UEFA Club Financial Control Body, chaired by Jose da Cunha Rodrigues, has today notified Manchester City Football Club of the financial decision on the case which was referred by the CFCB Chief Investigator," read part of the statement.
As a result, UEFA said the Adjudicatory chamber has imposed a disciplinary action on the club directing that it be excluded from participating in UEFA club competitions in the next two seasons of 2020/2021 and 2021/2022.
Further, the club will have to part with 30 million Euros in fine for the offense. This is an equivalent to Sh3.2 billion fine.
"The decision of the Adjudicatory Chamber is subject to appeal to the court of Arbitration for Sport- CAS. If Manchester City Club exercises that right the full reasoned decision of the Adjudicatory Chamber will not be published prior to publication of the final award by the CAS," the statement said.
The Association said since Man City has a right to appeal it will not comment on the decision at the current stage.
But the club in its response said it was disappointed but not surprised by UEFA's announcement.
"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," the club said.
Man City argued that in December 2018, UEFA chief investigator publicly previewed the outcome and sanction he intended to be delivered against it before investigations had even begun.
The subsequent flawed and consistently leaked UEFA process the club said the investigator 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," Man City said.
The club said the case was initiated by UEFA, prosecuted and judged by the same association.
"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," read a response from the club.
Man City is currently in the second position after Liverpool with 51 points having played 25 matches.
