Manchester City were facing a huge Financial Fair Play sanction on Monday night as Uefa prepared to rule that the spending spree that transformed them into a superpower of the game breached its much-vaunted cost-control regulations.

Telegraph Sport has learnt that City, whose billionaire owner, Sheikh Mansour bin Zayed al Nahyan, has bankrolled the most successful period in the club’s history, will this week be found guilty of failing to comply with FFP rules – barring an improbable 11th-hour reprieve.

Paris St-Germain are also poised to be punished by Uefa’s Club Financial Control Body, which was created to police “greed, reckless spending and financial insanity” in European football and will meet on Tuesday and Wednesday to make its first decisions on which clubs will be prosecuted.

City and PSG are understood to be among fewer than 20 teams under threat of a sanction and, unless dramatic new evidence emerges in the next 48 hours to support their claims they have played by the rules, they are on course to be hit hardest of all.

The nature and degree of any punishment will be determined in the coming days but it is understood neither team will be faced with expulsion from the Champions League.