Manchester City could be facing a ban from the Champions League
Manchester City insist they are "fully co-operating" with the investigation
Last Updated: 16/05/19 10:10am
A UEFA panel investigating financial allegations concerning Manchester City are expected to recommend the club receive a one-year ban from the Champions League, according to Sky sources.
UEFA opened an investigation into alleged financial irregularities at the club earlier this year but City deny any wrongdoing and say the accusations are entirely false.
The Premier League champions have expressed concern about the reports which have emerged - initially in the New York Times - suggesting that investigators will push for a Champions League ban, before any official statement has been made by the European governing body.
A City statement read: "Manchester City FC is fully co-operating in good faith with the CFCB IC's (club financial control body investigatory chamber) ongoing investigation.
"In doing so the club is reliant on both the CFCB IC's independence and commitment to due process; and on UEFA's commitment of March 7 that it '...will make no further comment on the matter while the investigation is ongoing'.
"The New York Times report citing 'people familiar with the case' is therefore extremely concerning.
"The implications are that either Manchester City's good faith in the CFCB IC is misplaced or the CFCB IC process is being misrepresented by individuals intent on damaging the club's reputation and its commercial interests. Or both.
"Manchester City's published accounts are full and complete and a matter of legal and regulatory record.
"The accusation of financial irregularities are entirely false, and comprehensive proof of this fact has been provided to the CFCB IC."
A statement from UEFA read: "We do not comment on ongoing investigations regarding financial fair play matters."