Here’s Real Madrid’s press release about the decision.
The UEFA Executive Committee held a meeting by video conference and announced the schedule for the resumption of its competitions. The second leg of the Champions League Round of 16 match between Manchester City and Real Madrid will be played on 7 or 8 August. Depending on how the COVID-19 pandemic evolves, the match will be played in the English city or in Portugal, in which case it would take place in Do Dragao Stadium (Porto) or the Alfonso Henriques Stadium (Guimarães).
In the following rounds, the format of the Champions League will change, with the quarter-finals and semi-finals being played as a single match in Lisbon. The quarter-finals will be played between 12 and 15 August and the semi-finals on 18 and 19 August. The final will also take place in the Portuguese capital on Sunday 23 August.
All matches will be held at 9pm and five substitutions will be allowed to be made in each match. In its statement, UEFA states that it will “regularly assess the situation across the continent and will liaise with local authorities to see when spectators could gradually return”.
The game will be played behind closed doors. Manchester City have a 1-2 lead on aggregate, so Real Madrid’s odds of advancing to the Quarterfinals are not that great, although it’s clear that they are higher now that City will not play in front of their fans.