Among an array of allegations made by German publication Der Spiegel, it was claimed that City’s financial matters were built on a “web of lies”.
One accusation claimed that City concealed a payment of £200,000 to the agent of Jadon Sancho upon him joining from Watford, while other internal emails were said to show that City’s sponsorships were mostly paid by the club’s owner, Sheikh Mansour bin Zayed al-Nahyan.
City have rebuffed all accusations, telling Uefa that the claims were based on “hacked or stolen” emails – something Der Spiegel denies.
In a statement, Uefa said: “The Investigatory Chamber of the independent Uefa Club Financial Control Body has today opened a formal investigation into Manchester City FC for potential breaches of Financial Fair Play (FFP) regulations.
“The investigation will focus on several alleged violations of FFP that were recently made public in various media outlets.
“Uefa will make no further comments on the matter while the investigation is ongoing.”
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies