On Monday morning, the Court of Arbitration for Sport (CAS), overturned Manchester City’s two-year ban from the Champions League.
UEFA’s Club Financial Control Body (CFCB) in February, handed the ban to the Etihad club, claiming it had breached Financial Fair Play (FFP) regulations between 2012 and 2016.
CAS in a statement explained that “Manchester City FC did not disguise equity funding as sponsorship contributions, but did fail to cooperate with the Uefa authorities.”
It further reduced City’s original fine of 30m euros (£26.9m) to 10m euros.
Beyond the lifting of suspension and reduction of fines, today’s verdict has different implications for some of the top clubs in the Premier League.
First, it means that only two Champions League slots are available in England now, with champions Liverpool and City already qualified.
Arsenal’s 2-1 defeat to Tottenham on Sunday, now means they cannot qualify for Europe’s biggest club competition officially.
However, Manchester United can make a late run for the top four places, if they continue their fine run of form with a win over Southampton on Monday night.
Chelsea were humiliated 3-0 by Sheffield United last week, but Leicester’s 4-1 defeat against Bournemouth has given them fresh optimism.
The Foxes are now obvious candidates to drop out of the race for Champions League places altogether, especially with their tricky run-in.