Manchester City could still participate in next season's UEFA Champions League despite having been banned for two seasons.

The Premier League title defenders were found guilty of violating UEFA's financial fair play rules. They allegedly hid millions of euros in funding under the disguise of legitimate sponsorship income.

In addition to the ban, Pep Guardiola's team was handed a £25 million fine. However, the Sky Blues haven't yet accepted the punishment.

Yesterday, the CAS (Court of Arbitration for Sport] confirmed that City has already appealed against their suspension for committing "serious breaches." Man City chief executive Ferran Soriano has dismissed the accusations against his club as "simply not true."

As of now, there are no indications of when the case will be heard. If such a situation prevails, City might find itself competing in next season's tournament.

Reports claim that as a part of the CAS process, City will have an option of applying for "Provisional and Conservatory Measures." In that case, the ban would remain pending until a full hearing.

Christopher Flanagan from the International Sports Law Journal said, "We don't yet know if City have chosen to exercise that right. If they do, UEFA will have a right of reply. In making that decision, the arbitrator[s] will consider aspects such as whether irreparable harm would be done to City, the likelihood of City's case being successful overall, and the competing interests of City and Uefa."

For admissions into last season's Champions League, the final list was decided on June 3, 2019. It was only eight days before the preliminary draw of the event. If similar rules are followed this season, Manchester City could find themselves participating in the tournament, provided that the appeal is still ongoing by June 1, 2020.

Independent reports that UEFA president Aleksander Ceferin insisted that it wouldn't be a problem if Manchester City wins this year's Champions League. He said that the Sky Blues are an asset for the European football fraternity despite being banned from all continental competitions.

Manchester City vs Chelsea
Manchester City Getty Images

City is still alive in this year's Champions League as they lead Real Madrid 2-1 after the completion of the first leg of their round-of-16 tie.

If City ends up winning this year's trophy, they could potentially embarrass UEFA.