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Manchester City have threatened legal action against La Liga president Javier Tebas after he attacked their transfer spending and accused them of cooking the books at sister club Girona.

The Spanish supremo claimed City, and Paris St Germain, had been “peeing in the pool” over their transfer spending this summer, during an interview he gave at the Soccerex conference in Manchester.

That came two days after it was revealed that Tebas had written a letter to Uefa urging an investigation into the spending by both City and PSG – with Uefa deciding that City had no case to answer.

But he went on to claim City had also circumvented league financial rules by undervaluing the five players they have loaned to La Liga club Girona this season, including Aleix Garcia , Marlos Moreno and Pablo Maffeo .

City have reacted by consulting their solicitors.

Tebas said: “These clubs are laughing at the system – they have been caught peeing in the swimming pool. Neymar has peed from the diving board. We can't accept this.”

He later added: “‘We’re closely monitoring the books of Girona and their financial reporting.

“Girona put the five players who were being loaned from Manchester City on the books for a certain amount of money, which we didn’t believe was a real amount of money in terms of their salaries.”

‘So we made them put them on the books for a higher value. On the books, it looked like these players were essentially almost free. They were too low and we increased them.

‘It would be unfaithful competition within the Spanish league if Girona were able to report these players in such a way. If the five players from Manchester City are worth one euro each, they can put in a whole bunch of those players.’

A statement released by City reads: “We note the public comments made by Mr. Tebas today and earlier this week.

“Uefa’s statement of the 4th of September is clear and based on accurate information.

“By contrast, Mr. Tebas’ statements are ill-informed and in parts pure fiction.

“As you would expect, Manchester City Football Club and the City Football Group are seeking appropriate legal counsel and will act accordingly on that advice.”