Manchester City chief executive Ferran Soriano has denied claims the Premier League champions broke the rules over Financial Fair Play regulations.
City have been banned from UEFA club competitions for the next two seasons and fined €30million. The club plan to appeal against the sanction to the Court of Arbitration for Sport.
Here, Independent.ie charts the FFP case involving the reigning Premier League champions.
May, 2014: City were handed a £49m fine by UEFA - £32m of which was suspended - for failing UEFA Financial Fair Play rules and were restricted to a 21-man Champions League squad for the 2014-15 season.
November, 2018: German magazine Der Spiegel, citing documents and emails provided by the whistle-blowing platform Football Leaks, published a series of articles which accused City of trying to get around European football's FFP rules. City had repeatedly described Der Spiegel's reports as the product of a "clear and organised" attempt to tarnish their reputation.
March 7, 2019: UEFA announced it had launched a formal investigation into alleged breaches of FFP rules by City following a series of fresh allegations in the media. City said in a statement: "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."
March 8: The Premier League confirmed it was investigating City over alleged FFP breaches.
May 16: UEFA's club financial control body chief investigator referred City's case to UEFA's adjudicatory chamber following the conclusion of his investigation.
June 6: City asked the Court of Arbitration for Sport to throw out the FFP case brought against them by UEFA.
Nov 15: City failed in their bid to get UEFA investigation kicked out.
Feb 14, 2020: City were banned from UEFA club competitions for the next two seasons and fined £24.9m after being found to have "committed serious breaches of the UEFA Club Licensing and Financial Fair Play Regulations". City announced they would appeal to the Court of Arbitration for Sport.
Feb 19: City chief executive Ferran Soriano said in a video on the club website the allegations were "simply not true". The Spaniard added: "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 scrutinised many times, by auditors, by regulators, by investors and this is perfectly clear."