The newly-crowned Premier League champions, along with seven others including French giants Paris Saint-Germain, were found to have breached FFP regulations by European governing body Uefa.
City were last week fined £49m, issued limitations to their summer spending, told their wage bill could not increase and ordered to only name 21 players in their Champions League squad, as opposed to the regulation 25.
Yet Mubarak is adamant his club’s debt-free approach is correct, sustainable and will not be changed.
“History will judge what was right for football,” said Mubarak, who has been at the City of Manchester Stadium since 2008.
“Today we will break even, we will go into profitability next year while maintaining investment. We have zero debt, we don’t pay a penny to service any debt.
“For me that is a sustainable model. However, our friends in Uefa seem to think otherwise. They have their view, we have ours. I disagree with their views, but we are pragmatic and we will do, as always, what is best for this club, for the fans and if it means sometimes we have to take a pinch, we’ll take a pinch and we’ll move on.
“We know we have the right model and believe in this model and it will not compromise us or our strategy we continue to implement.”
While Manchester City seem unwilling to bow to Uefa, the European Commission last night ruled the governing body had no case to answer with regard to a legal challenge against FFP from players’ agent Daniel Striani.
Striani, represented by Belgian lawyer Jean-Louis Dupont, argued FFP rules restricting investment would have a negative effect on a player’s earning potential and infringe European Union law.
But the Commission has written to Striani telling him his interest is “illegitimate” and no further investigation is planned.
The same legal challenge was issued in a Belgian court where Striani could still succeed.