UEFA has confirmed that Abu Dhabi-owned Manchester City have been referred to the organization’s adjudicatory chamber for alleged breaches of its Financial Fair Play rules.
UEFA’s Financial Control Body has been investigating Manchester City for months after German publication Der Speigel, in a series of leaked reports, claimed that the club falsely inflated the value of a multimillion-pound sponsorship deal which was, in fact, an investment from the club’s owner Sheikh Mansour bin Zayed al-Nahyan himself.
Manchester City have continued to deny the accusations that could see them hit by a potential one-season ban from the Champions League if found guilty.
The club has released a statement this morning after the Club Financial Control Body (CFCB) Chief Investigator Yves Leterme gave the green light to move forward the investigation into a final conclusion.
The suddenness of the decision has greatly worried the City bosses, who put out a strong statement:
“Manchester City Football Club is disappointed, but regrettably not surprised, by the sudden announcement of the referral to be made by the CFCB IC Chief Investigator Yves Leterme.”
“The leaks to media over the last week are indicative of the process that has been overseen by Mr. Leterme. Manchester City is entirely confident of a positive outcome when the matter is considered by an independent judicial body.”
“The accusation of financial irregularities remains entirely false and the CFCB IC referral ignores a comprehensive body of irrefutable evidence provided by Manchester City FC to the Chamber.”
“The decision contains mistakes, misinterpretations and confusions fundamentally borne out of a basic lack of due process and there remain significant unresolved matters raised by Manchester City FC as part of what the club has found to be a wholly unsatisfactory, curtailed, and hostile process.”
The club’s confident and positive reaction following UEFA’s decision has surely relieved fans who are looking forward to City’s FA Cup final against Watford at Wembley on Saturday, a victory in which would see Pep Guardiola‘s side crowned as history’s first-ever domestic treble winners.