PARIS/NYON: French champions-elect Paris Saint-Germain have dismissed reports in France and Switzerland that the club is in serious trouble with European federation UEFA over alleged breaches of financial fair play regulations.

PSG, already once guilty of an FFP breach, has been under scrutiny ever since splashing a world record €222m on Brazilian superstar Neymar from Barcelona and agreeing a loan-to-purchase deal worth a further €150m with Monaco for Kylian Mbappe.

The Financial Times has reported on Wednesday that PSG faced possible sanctions after preliminary investigations found that sponsorship contracts worth about €200m 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.

The club added: “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.”

Financial fair play is a system introduced by UEFA to cut club debts by making accountability a condition for entry into its competitions such as the Champions League and Europa League.

Critics have always claimed that while UEFA was prepared to punish mid-range clubs it would never act against one of the European club giants.