Manchester City have been referred to an independent judicial chamber following an investigation into alleged breaches of Financial Fair Play (FFP) regulations, European soccer’s governing body UEFA said on Thursday.
UEFA had opened an investigation into City over potential breaches of its break-even rule in March after German publication Der Spiegel reported the club’s Abu Dhabi owners inflated sponsorship agreements to comply with FFP requirements.
“The Club Financial Control Body chief investigator (Yves Leterme)… has decided to refer Manchester City FC to the CFCB adjudicatory chamber following the conclusion of his investigation,” UEFA said in a statement.
City released a statement soon after saying the Premier League champions were “disappointed, but regrettably not surprised, by the sudden announcement of the referral.”
FFP rules are intended to prevent clubs receiving unlimited amounts of money through inflated sponsorship deals with organisations related to the owners and clubs who have breached the rules can be barred from European competition.
“Manchester City is entirely confident of a positive outcome when the matter is considered by an independent judicial body,” City added.
“The accusation of financial irregularities remains entirely false and the CFCB IC referral ignores a comprehensive body of irrefutable evidence provided by Manchester City to the Chamber.
“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 as part of what the club has found to be a wholly unsatisfactory, curtailed, and hostile process.”
City, who won the Premier League title on Sunday, are seeking an unprecedented domestic treble when they face Watford in the FA Cup final on Saturday.
How Smuggling, Insecurity Threaten Steel Development
It is saddening and worrisome that increased smuggling of steel products into the country is inhibiting the efforts of the...
AAC Sets Up C’ttee To Probe Sowore Over $1m
The National Working committee of the African Action Congress( AAC) has set up a committee to probe Omoyele Sowore over...
National Orientation Agency Is Almost Dead- Amb. Coomassie
Regional Director, Association for Good Governance Network (AGGN) and Deputy National Coordinator (Diaspora), Buhari Campaign Organisation (BCO), Amb. Hussaini Coomassie,...
NGF Chairmanship: Odds Favour Fayemi
All things being equal,Ekiti State governor, Kayode Fayemi will today emerge as the chairman of the Nigerian Governors Forum( NGF)...
‘Our Gas Intervention Impacting Nigeria’s Economy’
Seplat Petroleum Development Company Plc has been at the forefront of investing in projects that will enhance gas utilization and...
Stakeholders Task FG On Digital Switchover
Critical stakeholders have urged the federal government to ensure the realisation of a full transition from Analogue to Digital Terrestrial...
COVER STORIES5 hours ago
Police Feed Detained Vulture With N5,000 Daily
NEWS19 hours ago
Gov. Bagudu Ready To Pay New Minimum Wage – NLC
NEWS18 hours ago
UPP Reconstitutes Anambra Executive
SPONSORED20 hours ago
Simple Ways To Cure Weak Erection And Quick Ejaculation
SCIENCE TECHNOLOGY18 hours ago
9mobile Introduces WhatsApp Customer Care
BUSINESS19 hours ago
US ‘Underestimates’ Huawei – Founder
NEWS20 hours ago
House Speakership: Group Drums Support for Hon Nwajiuba
Others18 hours ago
Ramadan: Saraki Holds Iftar For Constituents In Ilorin