Manchester City have been banned from UEFA club competitions for the next two seasons, European football’s governing body has announced.

The Premier League champions were found to have committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations and have also been hit with a 30 million euros (£24.9m) fine.

getty 2 Man City are allowed to continue competing at in this season’s Champions League

A statement by UEFA read: “The Adjudicatory Chamber, having considered all the evidence, has found that Manchester City Football Club committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations by overstating its sponsorship revenue in its accounts and in the break-even information submitted to UEFA between 2012 and 2016.

“The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie: the 2020/21 and 2021/22 seasons) and pay a fine of 30 million euros.”

City are allowed to continue competing in this season’s Champions League, where they face 13-time winners Real Madrid in the last-16.

The club have said they are “disappointed but not surprised” by UEFA’s announcement and will appeal against the punishment at the Court of Arbitration for Sport “at the earliest opportunity.”

AFP or licensors 2 Man City have never won the Champions League and their quest to win it has got a whole lot harder

The statement read: “Manchester City is disappointed but not surprised by today’s announcement by the UEFA Adjudicatory Chamber.

“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.

“Simply put, this is a case initiated by UEFA, prosecuted by UEFA and judged by UEFA.

“With this prejudicial process now over, the Club will pursue an impartial judgement as quickly as possible and will therefore, in the first instance, commence proceedings with the Court of Arbitration for Sport at the earliest opportunity.”

Findings published by UEFA also state that the club “failed to cooperate in the investigation of this case by the CFCB”.

In the absence of a successful appeal, Pep Guardiola’s side would be unable to compete in the Champions League or Europa League until the 2022/23 campaign.

Should CIty finish in the top four of the Premier League this season or next, the team in fifth will instead qualify for the Champions League.