Manchester City have dismissed as "entirely false" accusations that they may have breached Financial Fair Play (FFP) rules after Uefa launched a formal investigation.
The European governing body announced on Thursday it had opened a probe into allegations made in the international media, principally German magazine Der Spiegel, suggesting that the club had broken FFP rules.
City said they welcomed the investigation.
A statement on the club's website said: "Manchester City welcomes the opening of a formal Uefa investigation as an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context publication of City emails.
"The accusation of financial irregularities are entirely false. The club's published accounts are full and complete and a matter of legal and regulatory record."
