(CNN) Manchester City said it was "disappointed" but "not surprised" after it was referred to UEFA's club financial control body adjudicatory chamber following an investigation into allegations of unfair financial practices.

Investigators from European football's governing body met Thursday and UEFA confirmed Chief Investigator Yves Leterme had submitted his recommendation.

The New York Times reported Monday that investigators would recommend a season-long ban from the Champions League but Leterme's recommendation has not been made public.

City, who has strenuously denied any financial wrongdoing, has criticized the investigatory process saying it is: "disappointed, but regrettably not surprised, by the sudden announcement of the referral to be made by the CFCB IC Chief Investigator Yves Leterme."

"The leaks to media over the last week are indicative of the process that has been overseen by Mr. Leterme," added the statement.

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