UEFA have announced they are investigating Manchester City for “alleged violations of Financial Fair Play,” but the club welcomed the move.
This is the latest development in the fall-out from the Football Leaks scandal, sparked by German newspaper Der Spiegel and other associated media outlets, based on hacked emails.
UEFA’s statement noted the formal investigation “will focus on several alleged violations of FFP that were recently made public in various media outlets.”
Manchester City replied with their own statement welcoming the investigation, insisting it is “an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context publication of City emails.
“The club’s published accounts are full and complete and a matter of legal and regulatory record.”
It is not the first time Manchester City’s approach to financing transfers has come under scrutiny, as the Premier League holders were already found to have breached FFP regulations in 2014.
City paid a fine of £49m, with £32m of it suspended, and were forced to play in the 2014-15 Champions League with a reduced squad.
Among the accusations levelled at Manchester City by Der Spiegel are that they made a prohibited £200,000 payment to Jadon Sancho’s agent when he was still just 14 years old.
On top of that, City are alleged to have used their sponsorship deals to circumvent Financial Fair Play limitations.