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City relieved of UEFA shackles after complying with FFP rules

Manchester City have exited UEFA's settlement regime after meeting the requirements imposed upon the club over breaches of the governing body's financial fair play (FFP) regime.

UEFA's Club Financial Control Body (CFCB) Investigatory Chamber has confirmed that the club has complied with the objectives of the settlement agreement that was signed in May 2014.

City were sanctioned along with Paris Saint-Germain and seven other clubs in the first wave of FFP penalties, and the then-Premier League champions agreed to pay a conditional £49million fine.

The ruling also included a three-year cap on maximum losses, as well as a freeze on their maximum wage bill and limits on spending in the transfer market for the same period. The club's 21-man squad for European fixtures was required to include eight 'homegrown' players.

CFCB chief investigator Yves Leterme announced that City, PSG and Dinamo Zagreb have all exited the settlement regime after meeting their obligations, while sanctions remain in place for 11 other clubs.