ZURICH (AFP) - Uefa on Thursday (March 7) announced they were opening an investigation into whether or not Manchester City broke Financial Fair Play (FFP) rules, a breach that could lead to a devastating Champions League ban.
However, English champions City insisted the accusations against them are false and that they welcomed the opportunity to clear their name.
German magazine Der Spiegel, using material purportedly obtained from the whistleblowing outlet Football Leaks, alleged in November that City had set up sponsorship deals to circumvent regulations limiting how much money owners can put into a club.
"The Investigatory Chamber of the independent Uefa Club Financial Control Body has today opened a formal investigation into Manchester City FC for potential breaches of Financial Fair Play (FFP) regulations," said a Uefa statement on Thursday.
"The investigation will focus on several alleged violations of FFP that were recently made public in various media outlets."
City responded immediately by saying they supported the investigation and that they had nothing to hide.
"Manchester City welcomes the opening of a formal Uefa investigation as an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context publication of City emails," the club said in a statement.
"The accusation of financial irregularities are entirely false. The club's published accounts are full and complete and a matter of legal and regulatory record."
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City had earlier responded to Der Spiegel's claims by saying there had been an "organised and clear" attempt to damage the club's reputation.
A ban from Uefa competitions, including the Champions League, is a potential punishment if City are found guilty of FFP breaches.
City were fined €60 million (S$90 million) and subjected to squad, wage and spending caps in a 2014 settlement agreed with Uefa following a previous breach of the rules.
City coach Pep Guardiola has always insisted that City would accept a ban but does not believe it is likely after discussions with the club's UAE owners.
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"We will not be banned, no. That's what I think because I trust in my chairman, with my CEO, what they have explained to me," he said.
"If it happens, because Uefa decide that, we will accept it and move forward."
City are not the only European heavyweight to be caught up in claims of breaking financial fair play rules.
French champions Paris Saint-Germain quashed reports they could be forced to sell either Kylian Mbappe or Neymar in a bid to circumvent eventual FFP sanctions.
Qatar-owned PSG, who splashed a combined total of more than €400 million in 2017 for Brazil star Neymar and France World Cup winner Mbappe, blasted allegations as "totally false and ridiculous".
Former European champions AC Milan were warned in December that they risk being excluded from European competition if they fail to "break even".
Milan had already been banned for a year from the Europa League due to breaching FFP regulations before winning an appeal to the Court of Arbitration for Sport (CAS) last year.
But Uefa said the former seven-time European champions again face suspension from continental competition in future seasons "should the club not be break-even compliant at 30 June 2021".
Manchester United's Ander Herrera and Paul Pogba headed first-half goals to claim a 2-0 win that dumped FA Cup holders Chelsea out of the competition and secured a place in the quarter-finals in an intense tie at Stamford Bridge on Monday. Spaniard Herrera finished off a fine move with a precise
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LONDON (AFP) - Pep Guardiola hailed his "incredible" Manchester City stars as they swept back to the top of the Premier League with a 2-0 win at Fulham on Saturday (March 30).. Read more at
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Advertisement MANCHESTER, Mar 9: Pep Guardiola is confident his achievements at Manchester City will not be tarnished by UEFA's investigation into alleged Financial Fair Play (FFP) breaches and trusted the club to resolve the matter, the Spanish manager said on Friday.
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Cristiano Ronaldo will spearhead Juventus' old guard as they look to finish the job on Tuesday against Ajax's impressive young guns in a quarter-final clash between two sides desperate to end years of Champions League heartbreak.
Juve's old guard bidding to finish job against Ajax kids
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Turin (Italy) (AFP) - Cristiano Ronaldo will spearhead Juventus' old guard as they look to finish the job on Tuesday against Ajax's impressive young guns in a quarter-final clash between two sides desperate to end years of Champions League heartbreak.
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Win. Burnley (UK), March 2, 2019 (Reuters/NNN) Crystal Palace moved further away from the Premier League relegation zone with a 3-1 win at fellow strugglers Burnley on Saturday. The Londoners puklep the victory thanks to second half goals from Michy Batshuayi and Wilfried Zaha.
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BERLIN (REUTERS) - Bundesliga leaders Bayern Munich beat Werder Bremen 3-2 with two goals from Robert Lewandowski on Wednesday (April 24) to advance to the German Cup final for the second straight
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Messi notches 50th career hat-trick as La Liga leaders Barcelona twice come from behind to beat Sevilla The Argentine loves to score against Sevilla as he has already netted 36 goals in 35 games
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Malaysia 0-1 Singapore: Faris' late goal settles derby in football's AirMarine Cup Malaysia 0 Singapore 1 The easy part was to promise entertaining, attacking football but Nazri Nasir walked the walk when he guided the Lions to a 1-0 win over Malaysia in the AirMarine Cup last night
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Liverpool coach Juergen Klopp has said that the outcome of their Champions League last-16 tie against Bayern Munich on Wednesday will not affect the Premier League title run-in.
Result against Bayern Munich won't affect Premier League bid
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