PARIS: French club Paris St Germain have dismissed as "wrong" a report that they face sanctions over their transfer spending.
European soccer`s governing body opened a formal investigation in September into PSG to see if their transfer spending had broken UEFA Financial Fair Play rules.
The Financial Times reported on Wednesday that PSG were facing the threat of sanctions after preliminary investigations found that sponsorship contracts worth about 200 million euros ($247.22 million) have been "overstated".
Criticising the report as "wrong and directed against the club", PSG said in a statement later on Wednesday that UEFA had a "clear and transparent vision" of its finances and that the probe was ongoing.
"Paris Saint-Germain is in constant contact with UEFA and will present its case in full serenity April 20 before European football`s governing body," PSG said.