The reduced Champions League squads may not have much of an impact either. Teams are ordinarily allowed 25-man squads for the competition, but few end up using that many. City and PSG both used 21 players on the field this past season -- not counting unused substitutes.
"Our ambition to build one of the best and most competitive European Football clubs will not be undermined by these measures," said PSG president Nasser Al-Khelaifi. "We will continue to invest in developing a highly competitive team and will continue our investments in our stadium and training infrastructures while at the same time remaining, as we are today "debt free."
The FFP rules require clubs who play in the Champions League and Europa League to balance their finances, and are meant to curb huge investments by owners and excessive spending on transfers.
The sanctions were handed down five years after UEFA President Michel Platini launched the program to tackle "cheating" by overspending. No club was expelled from next season's Champions League or Europa League, which had been billed as the harshest punishment available.
The other clubs to have failed FFP were Galatasaray, Trabzonspor and Bursaspor from Turkey, Russian sides Zenit St Petersburg, Anzhi Makhachkala and Rubin Kazan, as well as Levski Sofia from Bulgaria.
Those were handed fines ranging from 200,000 euros -- for Galatasaray, Trabzonspor, Levski and Bursaspor -- to 12 million euros for Zenit.
UEFA was expected to rule against Man City and PSG, which far exceeded a limit of 45 million-euro losses over the first two seasons of very complex accounting rules for FFP assessment. Both clubs tried to balance their finances with inflated sponsorship deals linked to their owners in Abu Dhabi and Qatar, respectively.
City was also scrutinized for booking tens of millions in revenue from selling image rights and consultancy fees to third parties.
Critics of FFP say it was effectively manipulated during UEFA's lengthy consultation with clubs who saw an opportunity to lock out emerging rivals whose new, wealthy owners wanted to spend quickly to join the elite.
Clubs such as Barcelona, Bayern Munich, Manchester United and Real Madrid, which have lucrative commercial deals worldwide, will all likely benefit from City and PSG now having to rein in their transfer strategy.
