City breaks silence over alleged financial fair play breaches and UCL ban claims

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Financial Fair play,UCL ban

Man City breaks silence over alleged financial breaches and UCL ban claims

Manchester City have responded to reports they could face one-season Champions League ban over alleged financial breaches.

There has been investigation by a regulatory committee over a series of leaks into City’s financial conduct,Der Spiegel.

And Citizens are said to await the results of a UEFA financial control board meeting held two weeks ago in Switzerland.

According to New York Times, the financial regulators will recommend one season ban  from the Champions League for the English club.

However,City in their statement have rebuked these claims stating that the club has provided a comprehensive proof of no financial misconduct.

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“Manchester City is fully cooperating in good faith with the CFCB IC’s [Club Financial Control Body investigatory committee] ongoing investigation.

“In doing so the club is reliant on both the CFCB IC’s independence and commitment to due process; and on UEFA’s commitment of the 7 of March THAT it ‘will make no further comment on the matter while the investigation is ongoing’.

“The New York Times report citing ‘people familiar with the case’ is therefore extremely concerning.

“The implications are that either Manchester City’s good faith in the CFCB IC is misplaced or the CFCB IC process is being misrepresented by individuals intent on damaging the Club’s reputation and its commercial interests. Or both.

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“Manchester City’s published accounts are full and complete and a matter of legal and regulatory record.

“The accusation of financial irregularities are entirely false, and comprehensive proof of this fact has been provided to the CFCB IC.

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