A German media group, Der Spiegel reports that UEFA Club Financial Control Body have began investigating Manchester City on Financial Fair Play (FFP) violations.
City’s Abu Dhabi has been accused of inflating sponsorship agreements in order to comply with FFP requirements
But responding to the allegation, City said information had been “hacked” and published “out of context”, adding that they welcomed the opening of a formal investigation.
“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.”
The club previously fell afoul of FFP rules in 2014.
According to Der Spiegel’s report, documents received by the whistle blower platform Football Leaks, alleged that some of City’s Abu Dhabi sponsorships were three times more lucrative than independent experts deemed they were worth.
And UEFA says following the publication that it could re-open investigations on a case-by-case basis.
The FFP rules are intended to prevent clubs receiving unlimited amounts of money through inflated sponsorship deals with organizations related to the owners.
Clubs Der Spiegel’s report be barred from European competition if they are found to have breached the rules.