Premier League opens investigation into City in wake of UEFA's probe
The Premier League is investigating Manchester City for allegedly violating Financial Fair Play (FFP) regulations.
A statement from the organizing body, obtained by BBC Sport, reads: "The Premier League has previously contacted Manchester City to request information regarding recent allegations and is in ongoing dialogue with the club.
"The league has detailed financial regulations and strong rules in the areas of Academy player recruitment and third-party ownership.
"We are currently investigating these matters and will allow Manchester City every opportunity to explain the context and detail surrounding them."
News of the league's probe comes a day after UEFA opened a formal investigation into City for potential breaches of FFP rules.
The club could be banned from competing in the Champions League if it's found to have violated FFP terms, according to Martyn Ziegler of The Times.
City released a statement Thursday, insisting they welcome UEFA's investigation and labeling accusations regarding financial irregularities "entirely false."
The club added that it hopes UEFA's probe will bring an end to speculation over reported transgressions that were published earlier this season by German outlet Der Spiegel.
Numerous internal documents were published in the magazine's Football Leaks series in November that allegedly detail Manchester City's inner workings.
City are alleged to have made an illegal payment to the agent of former player and current Borussia Dortmund star Jadon Sancho. The club is said to have concealed a £200,000 payment to agent Emeka Obasi and offered him a role as a scout in 2015 when Sancho, then just 14 years old, was prohibited from having representation.
A UEFA investigation in 2014 found City in breach of FFP regulations, resulting in a £49-million fine, of which £32 million was suspended. City were also forced to reduce their Champions League squad the following campaign.
City won the Premier League last season and currently sit atop the table again, one point ahead of Liverpool with nine matches remaining. The club will take on Schalke next week in the second leg of their Champions League last-16 encounter.