Moneybags Manchester City have been fined £48.8million and handed a reduction in their Champions League squad for next season from 25 to 21 players for breaching Uefa's financial fair play rules.
But the world's richest football club will have £32.5m of the fine returned if the Premier League champions comply with spending controls agreed with Uefa so, by their standards, this is a mere slap on the wrist.
City accepted the sanctions, which also include a salary freeze on the Champions League squad put together by manager Manual Pellegrini (right) for the next two seasons, and to "significantly limit spending in the transfer market for seasons 2014/2015 and 2015/2016," according to a Uefa statement.
The other clubs to have failed FFP are: Paris St Germain from France, Galatasaray, Trabzonspor and Bursaspor from Turkey, Russian sides Zenit St Petersburg, Anzhi Makhachkala and Rubin Kazan, plus Levski Sofia.
City said in a statement they had agreed to limit their net spending on new players to 60million euro (£49million).
The statement said: "The club's expenditure on new players for the upcoming summer transfer window, on top of income from players it might sell, will be limited to 60m euros. This will have no material impact on the football club's planned transfer activity."