Manchester City issues statement over Financial Fair Play sanctions case

Manchester [UK], May 16 (ANI): English football club Manchester City on Thursday issued a statement expressing their disappointment over their Financial Fair Play (FFP) sanctions case being transferred to the CFCB adjudicatory chamber.
"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," Manchester City said in an official statement.
"The leaks to media over the last week are indicative of the process that has been overseen by Mr. Leterme. Manchester City is entirely confident of a positive outcome when the matter is considered by an independent judicial body," the statement added.
The newly crowned Premier League champions discovered in March that they were subjected to an investigation led by UEFA.
There have been speculations that the club may face a one season ban from Champions League if they are found guilty of breaching FFP regulations.
"The accusation of financial irregularities remains entirely false and the CFCB IC referral ignores a comprehensive body of irrefutable evidence provided by Manchester City FC to the Chamber," Manchester City said in an official statement.
"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," the statement added.
City have faced punishment for violating FFP regulations earlier as well, but they never been banned from the European competition.
In 2014, the club breached the regulations and they were handed a spending cap and reduced Champions League squad.
French football club Paris Saint-German also suffered a punishment the same year for the same reason.
UEFA also rolled out a statement earlier on this issue saying "The Club Financial Control Body (CFCB) chief investigator, after having consulted with the other members of the independent investigatory chamber of the CFCB, has decided to refer Manchester City FC to the CFCB adjudicatory chamber following the conclusion of his investigation.
(ANI)