Manchester (UK): Days after being handed a two-year suspension from Champions League, Manchester City's CEO Ferran Soriano has slammed the UEFA's ruling, saying the allegations are not true. His remarks came as UEFA on Friday decided to hand Manchester City a two-season suspension from Champions League. Along with this, the side was also asked to pay a fine of 30 million euros.

However, after this decision, City had revealed that they would indeed appeal to the Court of Arbitration for Sport (CAS). "The most important thing I have to say today is that the allegations are not true. They are simply not true. The owner has not put money in this club that has not been properly declared. We are a sustainable football club, we are profitable, we don't have debt, our accounts have been scrutinized many times, by auditors, by regulators, by investors and this is perfectly clear," Soriano said in a video posted on Manchester City's website.