Arsenal would take Manchester City’s place in the Champions League should they be banned from next season’s competition.
Uefa investigators want Pep Guardiola’s side to be banned from Europe’s top club competition for a season if they are found guilty of breaking financial rules.
Chief investigator Yves Leterme is set to make a recommendation this week on what their punishment should be.
Should City be banned from the Champions League for a season, it would open the door for fifth placed Arsenal to be handed a place in the competition even if they lose the Europa League final.
The Manchester club are accused of ‘several alleged violations’ of Financial Fair Play (FFP) regulations when Uefa announced its investigation in March.
According to emails published by German magazine Der Spiegel, City allegedly hid at least £70million in funding from its owners by claiming it was sponsorship income.
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The club are believed to have been accused by Uefa of providing ‘unconvincing’ explanations over their finances.
City have continued to refute the claims and released a statement questioning the integrity of the Uefa probe after a New York Times report claimed they will be suspended for a year.
Their statement said: “Manchester City FC is fully cooperating in good faith with the CFCB IC’s (Uefa’s Club Financial Control Body Investigatory Chamber) ongoing investigation.
“In doing so the club is reliant on both the CFCB IC’s independence and commitment to due process; and on Uefa’s commitment of the 7th of March that it ‘…will make no further comment on the matter while the investigation is ongoing’.
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“The New York Times report citing ‘people familiar with the case’ is therefore extremely concerning.
“The implications are that either Manchester City’s good faith in the CFCB IC is misplaced or the CFCB IC process is being misrepresented by individuals intent on damaging the club’s reputation and commercial interests. Or both.”