The operation, allegedly called Project Longbow by club insiders, allowed them to save €30m (£26.1m) in marketing income, according to Der Spiegel.
In the latest allegations to plunge City into turmoil, it is alleged a risk analysis regarding a possible deal with Arabtec was carried out by executives but that, despite the report concluding a partnership with the company would have "significant potential to damage the perception and standing of the club and its owners", the club struck an agreement regardless, signing a regional contract that would be publicised only in Arab states, Russian Federation and Turkey, where there was considered to be less risk of condemnation.
"Always I've said we can not achieve what we achieve, like the big clubs in Europe, is because they have to spend".
Der Spiegel is planning to publish further stories related to City on Wednesday and Thursday. Usually clubs pay players for their image rights.
Since Man City was bought with Abu Dhabi sovereign wealth in 2008, a team long in the shadows of more glamorous Manchester United has overtaken its rival on the field.
The deal between the two parties was signed on October 10, 2015, just a couple of months into the Catalan's third season for the Bavarians. The Guardian has not seen or been able to verify the documents Der Spiegel has used in its reporting.
And from Spain today comes more pressure on UEFA to investigate City's practices in relation to FFP, particularly the claim of artificially inflated sponsorship deals - or "financial doping" - which could be the most serious of the lot.
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However, a spokesperson for Etihad has claimed the airline was the real source of the money it paid to City.
City have not commented on the stream of claims beyond referring to a statement they issued last week which read: "We will not be providing any comment on out of context materials purportedly hacked or stolen from City Football Group and Manchester City personnel and associated people".
"This is reflected in the airline's audited accounts".
The allegations against City, who have a number of prominent Abu Dhabi-based sponsors, are that they manipulated contracts to get around that.
It led to apparent threats of legal action from the club and indignation to the point where City fans still gleefully greet the UEFA anthem with a chorus of boos on Champions League nights.
"I'm completely honest, I don't know what happen because I'm a manager".
Defending the Premier League champions as "incredibly professional" in response to allegations they bent financial fair play rules, he added: "Of course, like many, many clubs around the world they have a lot of money, but they are also an incredible club". I don't know what happened because I am a manager.