Uefa have issued a statement which emphasises the fact that the Court of Arbitration for Sport had "insufficient conclusive evidence" in its case against Manchester City.

The Blues were found not guilty of subverting the European governing body's financial fair play rules, but had a fine - for obstructing the investigation - reduced to ten million euros.

CAS announced the verdict this morning, and Uefa issued a statement shortly afterwards.

Uefa could still take the matter to Swiss courts but that is unlikely.

The verdict has cast some doubt over the validity of the financial fair play rules which City were cleared of breaching, but Uefa said that they remain committed to the process.

The statement read: "UEFA takes note of the decision taken by the Court of Arbitration for Sport to reduce the sanction imposed on Manchester City FC by UEFA’s independent Club Financial Control Body for alleged breaches of the UEFA Club Licensing and Financial Fair Play regulations.

Man City UEFA ban overturned

"UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the 5-year time period foreseen in the UEFA regulations.

"Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles.