Manchester City will be able to play in next season's Champions League after their two-year ban from UEFA competitions was lifted by the Court of Arbitration for Sport (CAS).
The club will still have to pay a fine, which has been reduced from €30 million (£25m/$33m) to €10m (£9m/$11m).
City were initially punished by UEFA in February, when they were banned from competing in the Champions League or Europa League for two years and given a €30m fine for breaching Financial Fair Play rules.
The ramifications for City had the UEFA decision stood would have been huge.
A club that have won four Premier League titles and six domestic cup competitions over the past decade would have seen their reputation seriously tarnished.
But more than the past, City’s future would have been uncertain.
No Champions League football for two seasons could have cost somewhere in the region of €200m (£180m/$220m) in lost revenue even if sponsorship deals would likely have not been impacted.
But that drop in revenue would not have come at a worse time, even for a wealthy club like City. They are now running the business on a profit and, like every other club, will be affected by the Covid-19 outbreak and its impact on matchday and television revenues.
Just as serious, would have been the consequences to Pep Guardiola and his squad.
The City manager had pledged to see out the final year of his contract and maintained that he trusted the club’s stance over the UEFA charges.
Guardiola has been loyal throughout but one of the greatest coaches in world football would have been sorely missed on big European nights.
Now he will be on the touchline, where he belongs, as he aims to bring the Champions League to City for the first time in the club’s history.
He has two attempts left - this season's August tournament in Portugal and now another one before the end of his current deal. But if there was any chance of City convincing the former Barcelona and Bayern Munich manager to stay longer, CAS’s verdict has given them more hope.
The club will still have to pay a fine, which has been reduced from €30 million (£25m/$33m) to €10m (£9m/$11m).
City were initially punished by UEFA in February, when they were banned from competing in the Champions League or Europa League for two years and given a €30m fine for breaching Financial Fair Play rules.
The ramifications for City had the UEFA decision stood would have been huge.
A club that have won four Premier League titles and six domestic cup competitions over the past decade would have seen their reputation seriously tarnished.
But more than the past, City’s future would have been uncertain.
No Champions League football for two seasons could have cost somewhere in the region of €200m (£180m/$220m) in lost revenue even if sponsorship deals would likely have not been impacted.
But that drop in revenue would not have come at a worse time, even for a wealthy club like City. They are now running the business on a profit and, like every other club, will be affected by the Covid-19 outbreak and its impact on matchday and television revenues.
Just as serious, would have been the consequences to Pep Guardiola and his squad.
The City manager had pledged to see out the final year of his contract and maintained that he trusted the club’s stance over the UEFA charges.
Guardiola has been loyal throughout but one of the greatest coaches in world football would have been sorely missed on big European nights.
Now he will be on the touchline, where he belongs, as he aims to bring the Champions League to City for the first time in the club’s history.
He has two attempts left - this season's August tournament in Portugal and now another one before the end of his current deal. But if there was any chance of City convincing the former Barcelona and Bayern Munich manager to stay longer, CAS’s verdict has given them more hope.
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