Manchester City have avoided a transfer ban but have been fined £314,500 after FIFA found the Premier League club guilty of breaching rules around the signing of young players.
The Associated Press' Rob Harris confirmed the news on Tuesday:
Rob Harris @RobHarris
FIFA: "Manchester City FC was found to have breached ... FIFA Regulations on the Status and Transfer of Players. The Disciplinary Committee took into account the fact that Manchester City FC accepted its responsibility and sanctioned the club with a fine of 370,000 Swiss francs."
The Times' Henry Winter provided further details from FIFA:
Per Matt Slater of The Independent, previous reports indicated FIFA would sanction the Premier League champions with a two-window transfer ban.
Chelsea are serving such a ban for breaching similar rules over the transfer of minors, so they were not able to make any signings in the recent window.
Given City's financial strength, a fine of just over £300,000 is likely to have little impact on the club.
A transfer ban, though, could have been a big blow for the Sky Blues, who have spent around £600 million on transfer fees since Pep Guardiola took over at the club in 2016.