City made the statement after being accused by the Premier League of breaching more than 100 times financial regulations that could have led to their expulsion from the league.
The Premier League champions said they were "surprised" by the allegations with "irrefutable evidence".
Man City accused by Premier League of more than 100 financial regulations
The Etihad Stadium team was accused by the Premier League of violating a number of financial rules from 2009 to 2018.
Not only that, City have been accused of not cooperating since the investigation began in December 12.
If the penalty is given, City could be fined, deducted points or removed from the Premier League.
City's statement read: "Man City are surprised by these allegations of Premier League violations, particularly given the large amount of documents that the Premier League has provided.
If penalised, Pep Guardiola's men could be expelled from the Premier League.
The club welcomes an independent panel on this matter, to objectively consider all irrefutable evidence to support our position."
City also stressed: "We want this issue to be resolved once and for all."
In the past, Man City has been involved in a scandal related to violations of financial fairness rules, was banned by UEFA from participating in the European Cup for 2 years and paid a fine of 30 million euros.
However, in July 7, they successfully appealed to the Court of Arbitration for Sport, so they continued to play in the Champions League.
The Premier League champions said they were "surprised" by the allegations with "irrefutable evidence".
Man City accused by Premier League of more than 100 financial regulations
The Etihad Stadium team was accused by the Premier League of violating a number of financial rules from 2009 to 2018.
Not only that, City have been accused of not cooperating since the investigation began in December 12.
If the penalty is given, City could be fined, deducted points or removed from the Premier League.
City's statement read: "Man City are surprised by these allegations of Premier League violations, particularly given the large amount of documents that the Premier League has provided.
If penalised, Pep Guardiola's men could be expelled from the Premier League.
The club welcomes an independent panel on this matter, to objectively consider all irrefutable evidence to support our position."
City also stressed: "We want this issue to be resolved once and for all."
In the past, Man City has been involved in a scandal related to violations of financial fairness rules, was banned by UEFA from participating in the European Cup for 2 years and paid a fine of 30 million euros.
However, in July 7, they successfully appealed to the Court of Arbitration for Sport, so they continued to play in the Champions League.