The club have been under investigation by Federation Internationale de Football Association, the Premier League, the FA and UEFA since March, as allegations that the club have breached FFP regulations in their pursuit of dominance reach fever pitch.
UEFA said it does not comment on ongoing Financial Fair Play investigations.
Manchester City have broken their silence on the Uefa investigation that could result in the club being hit with a one-season Champions League ban, claiming suggestions of wrongdoing are "entirely false" and that there is "comprehensive proof" otherwise.
If found guilty, City could be excluded from European competition but no timescale regarding the investigation has been made public and the club are angered by reports UEFA investigators will recommend a ban.
Chief investigator Yves Leterme will pass any recommendation on to UEFA's adjudicatory chamber, which would have to decide whether it agreed any proposed punishment was suitable.
City added it was "extremely concerning" that details about the process of the investigation has been leaked to a newspaper, saying that implies the club's "good faith" in the independent panel is "misplaced" or that the "process is being misrepresented by individuals intent on damaging the club's reputation and its commercial interests".
One of the allegations is that money received by Manchester City disguised as sponsorship payments was in fact pumped in by the Abu Dhabi United Group which owns the club, outlawed under Financial Fair Play rules.
In 2014, City reached a settlement agreement with UEFA after breaching spending rules and paid a conditional fine of 49 million pounds and accepted restrictions on incoming transfers.
If the ban is put forth however, it likely won't be for next season, as the appeal process and other legal proceedings wouldn't be completed on time to instill the ban for 2019-20.
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