Wenger insinuated City were bending the rules of Uefa’s Financial Fair Play by agreeing a £400 million deal with Etihad Airways for the naming rights of their stadium.
This was denied by a City spokesman who stated the club are working within the rules and regulations of Uefa.
However, Henry has supported Wenger's claim and believes there could be something afoot with City’s finances.
Henry said on his Twitter account: “A club's best player has to be worth at least 10% of your naming rights. Mr. Wenger says boldly what everyone thinks.”