UEFA opens investigation of Manchester City for possible Financial Fair Play violations
UEFA has opened an investigation of Manchester City for alleged Financial Fair Play violations.
The club allegedly tried to cover up its true source of income form Abu Dhabi in order to comply with FFP. Manchester City has been owned by Sheikh Mansour bin Zayed Al Nahyan, the United Arab of Emirates deputy prime minister, since 2008. If City did break the rules, it is possible that the club can be banned from Champions League.
Manchester City allegedly tried to raise its revenue artificially, according to leaked emails.
The governing body is looking at whether City can be banned from the Champions League after leaked internal correspondence exposed schemes by the club to allegedly cover up the true source of income from Abu Dhabi in a bid to comply with FFP.
Manchester City denies any wrongdoing and the club has released a statement: “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.”
City has been in trouble for breaching FFP regulations in the past. In 2014, the club was fined and had the number of players in its squad reduced in UEFA competitions.