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Manchester City await their punishment after being found guilty of 114 financial breaches out of 115 charges relating to the Premier League's Financial Fair Play rules, according to numerous press reports.
In England, comments attributed to Arsenal legend Thierry Henry spread on the subject, with the former France striker said to have called for harsh sanctions against City.
The former Arsenal man strongly denied making any such comments in a post on his Instagram account. "Fake news. I have not spoken to anyone from Manchester City. Stop making up stories," he wrote.
Some reports suggested City could face anything from a hefty fine to a points deduction, the stripping of titles from that period, and even relegation.
City are expected to appeal the ruling. The final punishment has not yet been determined.