UEFA HAVE ANNOUNCED they are opening an investigation into whether or not Manchester City broke Financial Fair Play rules, a breach that could lead to a Champions League ban.
“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,” a Uefa statement said.
“The investigation will focus on several alleged violations of FFP that were recently made public in various media outlets.”
The 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.
City responded to that report by saying there had been an “organised and clear” attempt to damage the club’s reputation and that the emails that allegedly informed the accusations had been obtained illegally.
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 and subjected to squad, wage and spending caps in a 2014 settlement agreed with Uefa following a previous breach of the rules.
In a statement, the Premier League leaders champions said: “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 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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