Manchester City have been fined $95 million and had next season's Champions League squad capped to just 21 players, after failing UEFA's financial fair play rules to stabilise football club finances.
Fellow big spenders Paris Saint Germain also copped the same conditional fine of 60 million euros and had their squad size capped for next season's Champions League.
As part of their settlement, City - last week crowned English Premier League champions for the second time in three years - also agreed to signficantly limit transfer spending for the next two seasons.
City's spending on transfers has also been limited to $95 million in the summer window, while their Champions League squad's salary has been frozen for the next two seasons.
And they've agreed to cut losses to a maximum of around $32 million for the 2013-14 financial year and a $16 million loss for the 2014-15 season.
UEFA has handed lesser punishments to seven other clubs including Galatasaray of Turkey and Russia's Zenit St Petersburg.