The group unfurled the tifo prior to City's Champions League clash with Real Madrid on Tuesday.
But 1894 fan group claim Madrid president Florentino Perez - who was in the stands at the Etihad - was actually the intended target.
A MANCHESTER CITY fan group have claimed Tuesday's Ballon d'Or banner was NOT aimed at Vinicius Jr.
Vinicius and Real Madrid boycotted the ceremony, believing the Brazilian to be the rightful winner.
Most had assumed the banner was a direct jibe at Vinicius, who started for Madrid in the clash.
