13:11 GMT 19/02/2020
The Spanish executive has confirmed that the club will be taking an appeal against the decision to the Court of Arbitration for Sport (CAS)
Manchester City CEO Ferran Soriano has spoken out to defend the club’s financial activity in the wake of their two-season European ban.
The reigning Premier League champions were hit with a €30 million (£32m/$25m) fine last week for breaching Financial Fair Play (FFP) regulations between 2012 and 2016.
However, Soriano has issued an official statement denying the allegations against City, insisting the club are not guilty of any wrongdoing.
He said: “Well the most important thing I have to say today is that the allegations are not true. They are simply not true.”
More to follow.