Man City Win Over Champions League Ban a Setback for UEFA Rules

The credibility of UEFA’s financial fair play rules has been questioned after Europe’s top soccer regulatory body lost in its attempt to ban Manchester City for two years from the Champions League.

Soccer governing body UEFA had barred the English Premier League team from Europe’s most prestigious competition for two seasons and fined it 30 million euros ($34 million) for overstating sponsorship revenue between 2012 and 2016.

In an almost complete reversal, the Independent Court of Arbitration for Sport in Switzerland said Monday that Manchester City did not hide equity funding as sponsorship contributions, although it failed to cooperate with ...