Manchester City, reeling after being forced to admit they and their sister club in New York misled fans on both sides of the Atlantic over Frank Lampard, are having their financial accounts scrutinised by UEFA to assess whether an attempt has been made to mislead the European governing body over the full extent of the club’s financial losses in 2013-14. The Mail on Sunday can reveal UEFA are examining whether the creation of a set of subsidiary companies by City’s ‘parent’ company, City Football Group (CFG), allowed City to under-report the club’s losses for 2013-14. Two particular subsidiary companies alone had costs, including wages, of £36.7million in the year to the end of May 2014, and posted combined losses of £25.9m in that period. Most of their business was done effectively on behalf of Manchester City FC in that period.
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Manchester City  forced to admit they misled fans over Frank Lampard
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UEFA are now scrutinising their accounts to to see if they've been mislead
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Club were found guilty of breaching Financial Fair Play rules last season
The rule breach last time stemmed from sales of ‘intellectual property’ by @placeholder to two companies owned by CFG in deals that UEFA ruled artificially inflated City’s income in 2012-13.
There is no specific timeframe to when @placeholder might discover whether they are in the clear over the latest accounts.