ZURICH (AFP) - Uefa upon Thursday (March 7) announced they were inauguration an examination into whether or not Manchester City broke Financial Fair act out (FFP) rules, a breach that could lead to a devastating Champions League ban.However, English champions City insisted the accusations next to them are untrue and that they welcomed the opportunity to clear their name.German magazine Der Spiegel, using material purportedly obtained from the whistleblowing outlet Football Leaks, alleged in November that City had set going on promotion deals to circumvent regulations limiting how much keep owners can put into a club. "The Investigatory Chamber of the independent Uefa Club Financial manage Body has today opened a formal examination into Manchester City FC for potential breaches of Financial Fair act out (FFP) regulations," said a Uefa statement upon Thursday."The examination will focus upon several alleged violations of FFP that were recently made public in various media outlets."City responded rapidly by motto they supported the examination and that they had nothing to hide. "Manchester City welcomes the inauguration of a formal Uefa examination as an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context revelation of City emails," the club said in a statement."The accusation of financial irregularities are agreed false. The club's published accounts are full and given and a issue of true and regulatory record." 
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City had earlier responded to Der Spiegel's claims by motto there had been an "organised and clear" attempt to broken 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 unity agreed behind Uefa behind a previous breach of the rules.City coach Pep Guardiola has always insisted that City would take a ban but does not receive it is likely after discussions behind 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, behind my CEO, what they have explained to me," he said."If it happens, because Uefa pronounce that, we will take it and assume forward."City are not the by yourself European heavyweight to be caught going on in claims of breaking financial fair act out rules.French champions Paris Saint-Germain quashed reports they could be forced to sell either Kylian Mbappe or Neymar in a bid to circumvent eventual FFP sanctions.Qatar-owned PSG, who splashed a combination total of more than 400 million in 2017 for Brazil star Neymar and France World mug winner Mbappe, blasted allegations as "totally untrue and ridiculous".Former European champions AC Milan were warned in December that they risk inborn 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 before winning an glamor to the Court of mediation for Sport (CAS) last year.But Uefa said the former seven-time European champions once again viewpoint recess from continental competition in vanguard seasons "should the club not be break-even tolerant at 30 June 2021".
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