Manchester City successfully reversed its two-year ban on European club competitions.
The Court of Arbitration for Sport (Cas) announced that “disguising equity funds as sponsorship contributions” was cleared of the club.
UEFA issued the ban in February following “serious breaches” of Financial Fair Play regulations committed by the ruling City between 2012 and 2016.
City’s fine has been cut from 30m euros (£26.9m) to 10m euros.
Cas said City did “fail to cooperate with Uefa authorities” in delivering the ruling on Monday but overturned Uefa’s club financial control body (CFCB)’s decision to ban them.
The city said the decision was “the validation of the position of the club and the body of evidence it could present”
“The club wishes to thank the panel members for their diligence and the due process that they administered,” City added.