'These allegations are not true': Manchester City's CEO slams UEFA

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.

"But in the end, this is an internal process that has been initiated and then prosecuted and then judged by this FFP chamber at UEFA," he added.

Ever since the ruling, speculations have risen over manager Pep Guardiola's future at the club. However, the CEO stated that the manager is adamant to stay at the club.

"Obviously, he has been kept informed about this process but this is not something for him to respond to. He is focused on the football, he is focusing on the game, the game at hand, the game today, tomorrow and the next weeks," Soriano said.

"As well as the players. They are calm, they are focused and this matter is more a business matter, a legal matter than a football manner," he added.

Manchester City is currently at the second spot in the Premier League standings with 51 points from 25 matches.