Manchester City are facing a possible ban from the Champions League due to financial fair play irregularities.

City are principally facing the allegation based on emails published by the German magazine Spiegel that the club falsely overstated the amounts coming to the club from sponsors based in Abu Dhabi, when in fact the money was coming from the owner Sheikh Mansour, of the emirate’s ruling family.

In a strongly worded statement, the club denounced alleged leaks of the process to the New York Times, and said:

“Manchester City FC is fully cooperating in good faith with the CFCB IC’s ongoing investigation. In doing so the club is reliant on both the CFCB IC’s independence and commitment to due process; and on Uefa’s commitment of the 7th of March that it … will make no further comment on the matter while the investigation is ongoing.

“The New York Times report citing ‘people familiar with the case’ is therefore extremely concerning. The implications are that either Manchester City’s good faith in the CFCB IC is misplaced or the CFCB IC process is being misrepresented by individuals intent on damaging the Club’s reputation and its commercial interests. Or both.

“Manchester City’s published accounts are full and complete and a matter of legal and regulatory record. The accusation of financial irregularities are entirely false, and comprehensive proof of this fact has been provided to the CFCB IC.”