ZURICH (AFP) - Uefa on Thursday (March 7) announced they were initiation an examination into whether or not Manchester City broke Financial Fair performance (FFP) rules, a breach that could guide to a devastating Champions League ban.However, English champions City insisted the accusations against them are false and that they welcomed the opportunity to positive their name.German magazine Der Spiegel, using material purportedly obtained from the whistleblowing outlet Football Leaks, alleged in November that City had set occurring backing deals to circumvent regulations limiting how much keep owners can put into a club. "The Investigatory Chamber of the independent Uefa Club Financial govern Body has today opened a formal examination into Manchester City FC for potential breaches of Financial Fair performance (FFP) regulations," said a Uefa verification on Thursday."The examination will focus on several alleged violations of FFP that were recently made public in various media outlets."City responded shortly by saying they supported the examination and that they had nothing to hide. "Manchester City welcomes the initiation of a formal Uefa examination as an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context pronouncement of City emails," the club said in a statement."The accusation of financial irregularities are completely false. The club's published accounts are full and answer and a business of legal and regulatory record." 
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City had earlier responded to Der Spiegel's claims by saying there had been an "organised and clear" attempt to damage the club's reputation.A ban from Uefa competitions, including the Champions League, is a potential punishment if City are found guilty of FFP breaches.City were fined 60 million (S$90 million) and subjected to squad, wage and spending caps in a 2014 agreement completely taking into account Uefa taking into account a previous breach of the rules.City coach Pep Guardiola has always insisted that City would accept a ban but does not agree to it is likely after discussions taking into account the club's UAE owners.QUESTIONS FOR PSG, MILAN
"We will not be banned, no. That's what I think because I trust in my chairman, taking into account my CEO, what they have explained to me," he said."If it happens, because Uefa regard as being that, we will accept it and concern forward."City are not the single-handedly European heavyweight to be caught occurring in claims of breaking financial fair performance rules.French champions Paris Saint-Germain quashed reports they could be irritated to sell either Kylian Mbappe or Neymar in a bid to circumvent eventual FFP sanctions.Qatar-owned PSG, who splashed a combination sum of more than 400 million in 2017 for Brazil star Neymar and France World mug winner Mbappe, blasted allegations as "totally false and ridiculous".Former European champions AC Milan were warned in December that they risk subconscious excluded from European competition if they fail to "break even".Milan had already been banned for a year from the Europa League due to breaching FFP regulations past winning an magnetism to the Court of intercession for Sport (CAS) last year.But Uefa said the former seven-time European champions once more viewpoint delay from continental competition in superior seasons "should the club not be break-even long-suffering at 30 June 2021".
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