Cole is the son of rivals' Manchester United's former striker Andy and was earmarked by fans and players of the La Liga side when Patrick Vieira's Elite Development Squad (EDS) played in Spain last week.
The 18-year-old actually scored the winning goal as City booked their place in the last eight of the competition but UEFA, who today banned a futsal player for using the quenelle celebration, are now investigating claims he was racially abused during the contest.
The report also suggests that the abuse was so vociferous that an announcement over the tannoy during the interval had to be made in an attempt to combat the remarks.
But it did little to stem the tide and Cole was also spat at as he left the field in the latest unsavoury racial incident to occur in Spain.
UEFA released the following statement this afternoon in the wake of the Mail's inquiry into the incident: 'Disciplinary proceedings have been opened against Club Atletico de Madrid Youth for improper conduct of the team and racist behaviour of their supporters at the UEFA Youth League round of 16 match between Club Atletico de Madrid Youth and Manchester City FC Youth which was played on 26 February 2014 in Spain.
'The case will be dealt with by the UEFA Control and Disciplinary Body on 20 March.'
image: © geetarchurchy