Video report by ITV News Sports Editor Steve Scott
Ferran Soriano denied claims that the Premier League champions broke the rules in a video on the club's website.
The club have vowed to fight the verdict of a UEFA investigation into accounts submitted by the club between 2012 and 2016.
"These allegations are simply not true," Soriano said in an interview on the club's official website.
The reigning Premier League champions are accused of overstating their sponsorship revenue in accounts submitted between 2012 and 2016 by European football's governing body.
City will play Real Madrid in the last-16 of this season's competition, with the first leg due to be played on February 26 at the Bernabeu.
The ban does not impact their involvement in this season's competition, but Pep Guardiola's side would be unable to compete in the competition until the 2022/23 campaign.
Last week, UEFA said in a statement: "The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in UEFA club competitions in the next two seasons (ie: the 2020/21 and 2021/22 seasons) and pay a fine of 30 million euros."
Findings published by UEFA also state that the club "failed to cooperate in the investigation of this case by the CFCB".
Soriano added: "The owner has not put money in this club that has not been properly declared."
"We are a sustainable football club, we are profitable, we don't have debt, our accounts have been scrutinized many times, by auditors, by regulators, by investors and this is perfectly clear."