19 Thursday, May 16, 2019 15:48

Manchester City referred to UEFA body after financial fair play investigation

(CNN)Manchester City said it was disappointed but not surprised after it was referred to UEFAs club financial control body adjudicatory chamber following an investigation into allegations of unfair financial practices.Investigators from European footballs governing body met Thursday and UEFA confirmed Chief Investigator Yves Leterme had submitted his recommendation.

The New York Times reported Monday that investigators would recommend a season-long ban from the Champions League but Letermes recommendation has not been made public.City, who has strenuously denied any financial wrongdoing, has criticized the investigatory process saying it 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, added the statement. Read MoreManchester City is entirely confident of a positive outcome when the matter is considered by an independent judicial body. 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.

Manchester City was disappointed after it was referred to UEFAs club financial control body adjudicatory chamber. READ: Man City defends classless anti-Liverpool song amid online backlash READ: Man City celebrates Premier League title with impromptu gigUEFA has been investigating the club for possible breaches of its Financial Fair Play (FFP) regulations since leaked files were reported by Der Spiegel.

FFP rules are supposed to stop clubs from getting into unmanageable debt or allowing wealthy benefactors to give top teams an unfair advantage. Der Spiegel cited club documents gathered by the independent Football Leaks investigative project, which the German publication says show the club inflated sponsor fees when the club spent more than expected.

These types of sponsorship deals allowed the club to circumvent UEFAs financial rules designed to create a more level playing field, according to Der Spiegel. CNN has not seen the documents referred to in reports from Der Siegel, which was first to report the accusations of financial improprieties.
Manchester city owner Sheikh Mansour bin Zayed Al Nahyan looks on during his clubs match against Liverpool in 2010.

READ: Man City braced for possible ban from Champions LeagueAllegations The Emirati royal Sheikh Mansour bin Zayed al Nahyans investment company Abu Dhabi United Group owns Manchester City. Etihad Airways, the flag carrier of the Emirates, is the clubs shirt sponsor and has naming rights for its stadium.

.But Der Spiegel, citing club documents, alleged the airline financed only part of the sponsorship deal, with ADUG coming up with the rest. The club also allegedly.....

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