City were handed a two-year European ban by UEFA back in February for breaking Financial Fair Play (FFP) rules and breaching UEFA’s club licensing regulations while also being fined £25m.
City lodged an appeal at the Court of Arbitration for Sport, who announced last month that the English side’s ban had been overturned while their fine was also reduced to £9m for failing to cooperate with UEFA’s investigations.
UEFA and Man City have had a tetchy relationship in the past which has culminated in the Cityzens’ supporters booing the Champions League anthem when it is played out on European nights at the Etihad Stadium.
City manager Pep Guardiola demanded an apology from UEFA in the wake of CAS’s decision but chairman Khaldoon believes it is time to move on and build a good rapport with Europe’s football governing body.
"Life is too short to carry grudges," Khaldoon told City’s official website in a wide ranging interview.
"It is an important competition. It is one of the most prestigious competitions in the world of sports and it is a competition we want to win, and we have to respect in order to win.
"This was a challenge, it's behind us, end of story. I am focused on one thing - how I can help this club compete in this competition and win it and how to have a constructive relationship with UEFA, I think it's the only way to go."
