PSG among European giants fined for financial breaches
PSG among European giants fined for financial breaches
French giants Paris Saint-Germain have been hit with a UEFA fine for breaching spending rules, while Chelsea are being 'monitored' Read Full Article at RT.com
UEFA announced a range of sanctions while some clubs were warned they are being monitored
Paris Saint-Germain, Juventus and Inter Milan are among several clubs to have been hit with fines by UEFA after falling foul of Financial Fair Play (FFP) rules, the governing body of European football announced on Friday.
The Qatar-backed PSG, who have paid the two highest fees ever recorded when they signed Neymar and Kylian Mbappe in 2017 and 2018 respectively, have been fined a sum of $10 million, while other clubs such as Roma, Monaco and AC Milan have also been hit with sanctions after being found to have not been in compliance with spending rules since 2018.
This comes amid around $172 million in fines being handed out to a wide range of European clubs due to supposed financial improprieties.
Premier League sides Chelsea, Man City, West Ham and Leicester, meanwhile, avoided UEFA's wrath due to “exceptional Covid deductions and consideration of historical financial results,” during which time the rules governing spending were loosened.
However, the four English sides have been warned that the rules which were relaxed due to the Covid-19 pandemic are no longer in effect and that they are being “monitored closely in the upcoming period.”
Such dispensations were due to various reasons, not least of which was the loss of income by not having crowds at home games throughout large sections of the pandemic.
UEFA announces FFP fines for PSG, Juventus etc plus 19 clubs who took part in European competition last season including Man City, Chelsea, West Ham and Leicester on watchlist. Arsenal (not in Europe last season) expected to be in similar position next year pic.twitter.com/wtVFNwfSgB
According to UEFA, AC Milan, Monaco, Roma, Besiktas, Internazionale Milano, Juventus, Olympique de Marseille and Paris Saint-Germain were found to be non-compliant with FFP for the years 2018 to 2022.
UEFA analysis revealed that all of the English clubs in European competition this season, as well as Scottish side Rangers, were in compliance after the Covid dispensation was factored in.
“The Club Financial Control Body (CFCB) reminded these clubs that as from financial year 2023 these exceptional Covid deductions and consideration of historical financial results will no longer be possible," UEFA said in a Friday statement.
“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.”
Premier League clubs have, so far at least, avoided UEFA's sternest wrath but the scrutiny is certainly being felt at clubs like Leicester City, whose spending has been severely constrained – even after selling French defender Wesley Fofana to Chelsea for around $80 million.
The former Premier League champions, who are currently bottom of the English top flight, spent just $17 million in a summer transfer window which saw a record level of spending between its 20 clubs.
Among the penalties potentially at UEFA's disposal include fines and the removal of a club from European competition.
Financial Fair Play was implemented a decade ago to monitor the financial spending of clubs in European competitions to ensure that their financial state remains healthy. However, clubs are permitted to spend unlimited sums on other factors, such as stadium improvements and on the various elements of under-age teams.
PSG previously paid a fine of $20 million in 2014 for an FFP breach, as did English champions Manchester City.
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