Monday, September 26, 2022
HomePremier LeagueUEFA fines eight clubs for violations of Financial Fair Play and places...

UEFA fines eight clubs for violations of Financial Fair Play and places Manchester City on a watchlist

Published on

3,563FansLike
3,200FollowersFollow
1,200FollowersFollow

UEFA fines eight clubs for violations of Financial Fair Play and places Manchester City on a watchlist

This year, the UEFA will closely examine Manchester City’s finances after fining eight teams for failing to meet Financial Fair Play criteria.

The Club Financial Control Body has penalized Paris Saint-Germain, Inter Milan, Juventus, Roma, AC Milan, Marseille, Monaco, and Besiktas a total of €172 million for failing to meet the break even threshold for the 2021/22 UEFA club tournaments.

Only €26 million will be paid up immediately, with the remainder contingent on each club’s compliance with their respective settlement agreements.

Concerning Manchester City, UEFA stated that the Blues were “technically able to meet the break-even threshold” but cautioned them that, beginning with the next fiscal year, any assistance they got from Covid-19 emergency measures or prior break-even results would no longer be accepted.

Consequently, UEFA has requested more financial information from City and 18 other clubs and will closely monitor them over the next year to ensure that they comply with the regulations moving ahead.

A UEFA statement said: “The CFCB First Chamber also observed that another 19 clubs that took part in the 2021/22 UEFA club competitions, namely Borussia Dortmund, Chelsea FC, FC Barcelona, FC Basel 1893, 1.FC Union Berlin, Fenerbahçe SK, Feyenoord, Leicester City FC, Manchester City FC, Olympique Lyonnais, Rangers, Real Betis Balompié, Royal Antwerp FC, Sevilla FC, SS Lazio, SSC Napoli, Trabzonspor AŞ, VFL Wolfsburg and West Ham United FC, were able to technically fulfil the break-even requirement thanks to the application of the COVID-19 emergency measures and/or because they benefited from historical positive break-even results (T-3 and T-4).

“The CFCB First Chamber reminded these clubs that as from financial year 2023 these exceptional COVID deductions and consideration of historical financial results will no longer be possible. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period. The goal of course is that the clubs’ overall financial situation is in compliance with the UEFA Club Licensing and Financial Sustainability Regulations– Edition 2022 in coming years.”

Of the eight clubs penalised, PSG must pay the highest penalties of €10 million, followed by Roma at €5 million, Inter at €4 million, Juventus at €3.5 million, and AC Milan at €2.5 million. In the following three or four years, the outstanding balances will be contingent upon settlement agreements.

UEFA fines eight clubs for violations of Financial Fair Play and places Manchester City on a watchlist

WhatsApp
WhatsApp

READ MORE

Click to connect!

Follow us on Twitter
https://www.facebook.com/sportsdias

LEAVE A REPLY

Please enter your comment!
Please enter your name here

popular

More like this

Barcelona sporting director hails Manchester United for making a very good decision

Erik ten Hag's good start as manager of Manchester United has not gone unnoticed.

Pep Guardiola has already informed Erik ten Hag how Man United can defeat Man City 

Erik ten Hag is confident that Manchester United will defeat Manchester City on Sunday, owing to Pep Guardiola.

Glen Johnson makes Arsenal’s title hopes prediction for this season

Despite a strong start to the season, Glen Johnson believes Arsenal's Premier League title push will "fade away" in the latter parts of the season.

Chelsea’s UCL opponents ravaged with key injuries ahead of crunch encounter

With the Chelsea game coming up, AC Milan is dealing with critical player injuries.