Speculation has already begun over coach Pep Guardiola’s potential departure from City [Carl Recine/Livepic/Action Images/Reuters]

European football’s governing body has banned English champions Manchester City from competing in European club competition for the next two seasons and fined it 30 million euros ($32.5m).

The UEFA (Union of European Football Associations) said in a statement on Friday that City, owned by the United Arab Emirates and one of the world’s wealthiest football clubs, had committed “serious breaches” of the Financial Fair Play (FFP) rules

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Manchester City had been under investigation by UEFA  over alleged breaches of  the financial transparency rules.

The Premier League club swiftly said it intended to appeal the decision to the Lausanne-based Court of Arbitration for Sport (CAS).

City lashed out at UEFA in

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