Manchester City slapped with 49 million-pound fine, capped squad for breaching UEFA\'s FFP rules

London: Newly-crowned Premier League champions Manchester City has reportedly been slapped with a 49 million-pound fine, 32 million pounds of which is suspended, and can only name a 21-man Champions League squad next season after failing UEFA financial fair play (FFP) rules.

Paris St-Germain, one of eight other teams to breach the rules, have been handed a similar fine and cap as City.

According to the BBC, A City statement said that they only fielded 21 players in the Champions League this season, were not planning to spend a net amount of more than 49 million pounds on players this summer and expected their wage bill to be lower next season anyway.

The statement further said that there is a 'fundamental disagreement' between the club's and UEFA's respective 'interpretations' of the FFP regulations on players purchased before 2010 as the club believes it has complied with the FFP regulations on this and all other matters.

The statement added that the club expected to be operating without sanction or restriction at the beginning of the 2015-16 season.

Clubs who breached the rules had to reach a deal with UEFA, which City have done, or else take it to an adjudicatory panel in June, the report added.