UEFA has opened a formal investigation into English Premier League champions (EPL) Manchester City over potential breaches of its break-even rule known as Financial Fair Play (FFP).
German publication Der Spiegel reported in November that Manchester City’s Abu Dhabi owners inflated sponsorship agreements in order to comply with FFP requirements.
“The investigation will focus on several alleged violations of FFP that were recently made public in various media outlets,” UEFA said in a statement on Thursday.
The English champions responded with a statement on their website.
“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 Manchester City emails,” the statement said.
“The accusations of financial irregularities are entirely false. The Club’s published accounts are full and complete and a matter of legal and regulatory record.”
Der Spiegel’s report is based on documents received by the whistle blower platform Football Leaks and reviewed by