Recently crowned as the Champions of the Premier League, Manchester City were referred to UEFA’s Fianancial body. City will be banned from Champions League for a season if they are found guilty of breaking the Financial Fair Play (FFP) rules.
However, Manchester City board said, “The accusation of financial irregularities remains entirely false”.
Manchester City Football Club is disappointed, but regrettably not surprised, by the sudden announcement of the referral to be made by the CFCB IC Chief Investigator Yves Leterme.
Chief investigator and former Belgium prime Minister Yves Leterme, who is currently the Chairman of the investigatory panel of UEFA’s Independent Financial Control Board (CFCB), his team have referred to the series of evidences that were leaked by German newspaper Der Spiegel last year. City denied
According to the alleged reports, City broke FFP regulations by inflating the value of a multimillion-pound sponsorship deal with Etihad Airlines and other Abu Dhabi companies in which City’s owner Sheikh Mansour is invovlved. Five years back, City were fined 49 million euros by UEFA, but received 33 million euros three year later, after they met the regulations.
Leterme’s fellow board of members expressed that a season-long ban would be a appropriate penalty for the breaching the FFP rules. However, it is not known whether Leterme supports a ban or not.
City could also face a transfer ban, with England FA, Premier League and UEFA investigating the club over the signing of youth players.
UEFA said it “will not be making any further comment on the matter until a decision is announced by the CFCB”.
City are confident and might take their case to the Court of Arbitration for Sport. Although, it is unlikely that this ban will apply to next season’s champions league.
Machester City have noticed the fact that it is five years to the day since UEFA announced that the had breached FFP rules. According to CFCB’s own norms, they cannot drag the prosecution five years after the event.
The matter still remains unresolved as CFCB IC referral has ignored Manchester city’s submission that extended to more than 100 pages.
Although, City are furious with this referral, they are also confident that they will not be found guilty if the matter is considered by a independent judicial body.