Manchester City’s two-year ban from European football has been overturned by the Court of Arbitration for Sport (CAS), the Lausanne-based court said on Monday. The decision means Pep Guardiola’s team will compete in next season’s Champions League.

CAS ruled that City did not breach the Financial Fair Play (FFP) rules by disguising equity funding as sponsorship. The court also reduced a fine for failing to cooperate with UEFA to €10 million from €30 million.

“Most of the alleged breaches reported by the (UEFA) Adjudicatory Chamber of the CFCB were either not established or time-barred,” CAS said in a statement.

Missing out on the Champions League would have cost City as much as £100 million in prize-money and broadcast revenue.

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