UEFA open formal investigation into Manchester City following alleged Financial Fair Play violation
Football governing body UEFA have opened formal investigations into Manchester City following allegations of Financial Fair Play violation.
The reigning Premier League champions have been under the spotlight following recent reports in German publication Der Spiegel, claiming to have obtained information regarding the club’s business.
A new tranche of leaked emails published recently by the German magazine provided more details of how they allegedly circumnavigated UEFA’s Financial Fair Play rules.
Football’s governing body UEFA have opened investigation on Manchester City
City are already being investigated by UEFA after leaked emails last November and the latest information appeared to show how they used direct funding from Abu Dhabi United Group, the investment fund owned by Sheik Mansour, to supplement sponsorship deals.
Releasing a short statement on Thursday, UEFA announced: ‘The Investigatory Chamber of the independent UEFA Club Financial Control Body has today opened a formal investigation into Manchester City FC for potential breaches of Financial Fair Play (FFP) regulations.
City are said to have used funding from Abu Dhabi United Group to supplement sponsorship
‘The investigation will focus on several alleged violations of FFP that were recently made public in various media outlets.
‘UEFA will make no further comments on the matter while the investigation is ongoing.’
UEFA’s rules place a strict limit on the cash an owner can inject directly into a club to prevent over-inflation in the football market.
Yves Leterme, the chairman and chief investigator of the UEFA Club Financial Control Body, said in January that City face ‘the heaviest punishment’ if the allegations are proven, which would mean exclusion from the Champions League.
Now the further raft of emails provides further evidence of how City have made it appear as though their record income in recent years came through increased sponsorship deals rather than simply funding from Sheik Mansour.