Premier League champions Manchester City have been fined £49m and can not name more than 21 players in their Champions League squad next season, as punishment for failing Uefa financial fair play (FFP) rules.
City can only spend £49m on players in the transfer market in the coming seasons, as well as any transfer fees they receive, in order to escape further punishment.
The sanctions also include a salary freeze on their Champions League squad for the next two seasons (2014-15 and 2015-16)- meaning their wage bill must stay the same as this season.
French champions Paris St. Germain (PSG), who were also found guilty of similar offence, have been hit with the same punishment.
Should the clubs successfully fulfill the operational and financial measures agreed with Uefa Club Financial Control Body, they will be able to reclaim £32m of the fine and have the squad cap lifted in time for the 2015-16 Champions League.
Man City have accepted the sanctions and says they were not planning to spend a net amount of more than £49m on players this summer and expected their wage bill to be lower next season.
The club statement read: “Manchester City Football Club can confirm that at the end of the current financial year (May 31st) it is on course to financially break even, as planned.
“In normal circumstances, the Club would wish to pursue its case and present its position through every avenue of recourse. However, our decision to do so must be balanced against the practical realities for our fans, for our partners and in the interests of the commercial operations of the Club.
“The nature of conditions that will result in the lifting of sanctions means that the Club expects to be operating without sanction or restriction at the commencement of the 2015-16 season.”
The other clubs guilty of breaking the rules were Russian sides Zenith St. Petersburg, Rubin Kazan and Anzhi Makhachkala, Turkish clubs Galatasaray, Bursaspor and Trabzonspor and Bulgarian club Levski Sofia.
Their punishments ranged from Zenit’s €12m fine, 6m suspended, and European competitions’ squad reduction to 22 players, Rubin (€6m, €3m suspended, squad reduction to 21), Anzhi (€2m, €1m suspended, squad restricted to 21) to Bursaspor, Galatasaray and Sofia’s €200,000 fines.