Friday 27 February 2015 22:45, UK
Liverpool have been cleared of breaching UEFA Financial Fair Play rules but Hull have reached a settlement with European football's governing body.
The Anfield club were found to have satisfied "the break-even requirement" and were no longer under investigation.
UEFA's Club Financial Control Body (CFCB) announced the decisions following a meeting on Friday
Put simply, the Reds lost around £50m in the 2012/13 season but because they spent most of the money on infrastructure, their stadium and training ground UEFA were happy with the amount spent.
UEFA investigated the clubs' accounts on their return to European club competitions this season, which is the second year of sanctions being applied.
Ian Ayre, Liverpool's chief executive officer, said following the judgement: "During this review period, the club was going through a transitional period having just emerged from a difficult financial and operational position under previous ownership.
Since FSG took over in October 2010, we have stabilised the club and made good overall progress by taking a measured approach to our financial position as we worked towards FFP compliance
"Since FSG took over in October 2010, we have stabilised the club and made good overall progress by taking a measured approach to our financial position as we worked towards FFP compliance. We have always been supportive of the principles of FFP and welcome today’s announcement"
Hull were found to be in breach of the rules, however, and agreed to pay a settlement of around £145,000 (200,000 euro) with the club's accounts continuing to be monitored by UEFA for the next year.
Hull manager Steve Bruce pointed out the accounting period went back to a time when the club were losing money trying to get out of the Championship.
Bruce said: "I think we all understand that the only reason is because of when we were in the Championship, and because we qualified for a UEFA tournament.
"We're all becoming accustomed that FFP is out there, we've been given two or three years to make sure we're alright and after that we should be in a healthy position.
"It's tough on us because the only reason we've come under investigation is a) because we've qualified for a UEFA tournament and b) because of when we were in the Championship.
"It's very, very difficult. "
City played in the qualifying rounds of the Europa League this season for the first time, but would have to pay an additional £290,000 if they were not compliant with FFP for the 2015/16 season.
UEFA introduced the financial monitoring project in 2011 to curb overspending on players.
Israeli club Hapoel Tel-Aviv, Panathinaikos of Greece and Poland's Ruch Chorzow joined Hull in settling payments for excessive losses while Czechs Sparta Prague joined Liverpool in satisfying the break-even rule to escape financial punishment.
The CFCB's investigations into Monaco, Internazionale, Sporting Lisbon and Roma are to continue.
In new cases, UEFA revealed they were investigating the accounts of Moscow clubs Dynamo and Lokomotiv.
