The Portuguese was deemed to be responsible for the late kick-off of the Europa League match against Royal Antwerp on October 29.
The punishment was for a delayed kick-off in their 1-0 UEFA Nations League home defeat by Hungary last month.
The soccer governing body said the decision is due to the financial impact of the COVID-19 pandemic, The Times has reported.
The 32-year-old saw off opposition from club teammate and German number one Manuel Neur and the Belgium and Manchester City midfielder Kevin De Bruyne.
The arrival is happening just as much of the continent tightens its social restrictions against a second wave of the virus.
The European football governing body said Wednesday that the ceremony would take place without club representatives or media but with the players attending.
European Club Association chairman, Andrea Agnelli said on Tuesday that UEFA is repaying 575 million euros (680 million dollars).
This has come in the wake of the decision to close the country’s borders to curb a rise in coronavirus cases.
All games in the recent UEFA Champions League and Europa League final stage mini-tournaments have been played behind closed doors.
Fans will return to the stands on September 24, when the Champions League winners meet the Europa League winners in Budapest.
The issue was highlighted earlier this year when the Saudi sovereign wealth fund, PIF, was part of an investment group that made a bid to buy Premier League club Newcastle United.
The format was changed in order to allow the competition to be completed in a shorter time-span after the COVID-19 pandemic halted play for several months across Europe in March.
Manchester City were cleared on Monday of breaking UEFA’s Financial Fair Play rules by the Court of Arbitration for Sport.
Tottenham Hotspur manager Jose Mourinho said on Tuesday it was a disgrace for such a decision to have been made.
Klopp said this at a virtual news conference on Tuesday.
City, who confirmed their place in next season’s European Cup with the 5-0 thrashing of Brighton & Hove Albion, lodged their appeal to CAS in February after Uefa’s club financial control body issued the suspension in February
Manchester City’s appeal against the ban was heard last month at the Court of Arbitration of Sport and a decision is expected by July 13.
During a video conference on Wednesday, UEFA and the German Football Federation (DFB) reaffirmed their commitment to staging the event in Germany, European soccer’s ruling body said in a statement.
According to Reuters, the proposal is expected to be agreed upon after a consensus was reached on Monday.
The Court of Arbitration for Sport set the target Wednesday of “during the first half of July” to publish the decision of its three-judge panel.