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".
Neymar has denied an accusation that he raped a woman in Paris. A leaked police report filed in Sao Paulo reveals the woman alleges that the attack took place in a hotel in the French capital.
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Mauricio Pochettino will have been glad of the three weeks between Tottenham's last league game and the Champions League final, but it leaves him with some big decisions to make for the big game.
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Jun 01, 2019 · Jose Antonio Reyes, a Spanish soccer star best known for playing for his hometown club Sevilla and a stint with English side Arsenal, died Saturday in a car crash near his childhood home in Utrera
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Sanchez insisted he had "no concerns" about the eligibility row and also dismissed speculation that notoriously trigger-happy Qatar might replace him with a big-name coach before the World Cup. "I'm very proud to be the Qatar national team coach. Today we made history. I'm only thinking about today.
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SINGAPORE - Ikhsan Fandi's rich vein of scoring form continues as the Singapore striker found the net in his third consecutive match for second-tier Norwegian club Raufoss IL in just 11 days..
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"I'm very happy for Irfan and Ikhsan, this shows they are at a good level. Hopefully, they can spur the other boys to work harder as well." Given striker Ikhsan, 20, had arrived from Norway on Tuesday and was jet-lagged, it was no surprise that Fandi opted to bench his younger son.
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Messi's motivation spurs on Barcelona, says Rakitic Date created : 30/04/2019 - 19:01 Ivan Rakitic says Messi is proving an inspiration for Barcelona ahead of Liverpool semi-final AFP
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The Italian club are looking for a forward after new signing Alvaro Morata was injured in his first training session with the club. Balotelli? Football. old Lotterer is a three-time winner
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The Sun is reporting that United caretaker boss Ole Gunnar Solskjaer was not happy following the team's defeat and let them know in no uncertain terms that they were playing football how Jose
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Guardiola to make late decision on Silva for Palace trip. 2 Min Read. FILE PHOTO: Soccer Football - Premier League - Fulham v Manchester City - Craven Cottage, London, Britain - March 30, 2019
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Liverpool manager Juergen Klopp concedes he faces a selection dilemma as centre back Dejan Lovren is unlikely to feature against Bayern Munich in Tuesday's Champions League last 16 fixture at Anfield.
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Solskjaer rues missed chances. 2:45 Ole Gunnar Solskjaer says Manchester United created some great chances but did not take them in their 2-0 defeat to Arsenal. Watch Next. Carvalhal lauds Prem
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