Manchester City have received a €60m fine (£49m), of which €40m is suspended, for breaching financial fair play regulations, UEFA has announced.
The side will have their Champions League squad reduced to 21 players as part of their punishment.
City also agreed to "significantly limit spending in the transfer market for seasons 2014/2015 and 2015/2016," according to a statement released by European football's governing body.
More top news
A family dog was 'best man' as he stood by a wounded veteran's side when he married his school sweetheart.
Mild and muggy - with more rain.
After six years of cuts to local authority budgets, the money simply isn't there to fund every request for adult social care.