After the news broke, Man City released the following statement: "Manchester City is disappointed but not surprised by today's announcement by the UEFA Adjudicatory Chamber".
The decision comes following a hearing of the Adjudicatory Chamber of the Uefa Club Financial Control Body on the 22nd of January.
Manchester City have been banned from the Champions League for the next two seasons by Uefa and fined €30m (£25m) after they were found to have seriously misled European football's governing body and broken financial fair play rules.
The statement from the Premier League champions sounded a similarly strident tone to when they addressed being referred to the CFCB's Adjudicatory Chamber in May previous year and they once again took specific issue with Yves Leterme - the former Belgian Prime Minister and UEFA's chief investigator.
The ban will take effect from next season (beginning in August) and the club has also been told to pay a fine of €30 million.
City said it would appeal against the sanctions, criticising a "flawed" process.
City are considered certain to appeal against Uefa's verdict to the court of arbitration for sport. "If Manchester City Football Club exercises that right the full reasoned decision of the Adjudicatory Chamber will not be published prior to publication of the final award by the CAS".
Guardiola's City outfit now sit second in the Premier League table, meaning that the fourth Champions League slot available for English teams would likely go to the fifth-placed club this term.
When City were charged last May, the club vehemently denied any wrongdoing, saying that they had been subjected to a "hostile" process which ignored "a comprehensive body of irrefutable evidence".
"In December 2018, the Uefa chief investigator publicly previewed the outcome and sanction he meant to be delivered to Manchester City before any investigation had even begun", it read.
City said in a statement they were "disappointed but not surprised" by the outcome of a "prejudicial process" and would now seek an "impartial judgment" by commencing CAS proceedings at "the earliest opportunity".