Nine clubs face UEFA fair play sanctions
Manchester City, Paris Saint-Germain prominent among suspects.
Manchester City has accumulated deficits of £97.9 million in 2012 and £51.6 million last year.
PARIS:
Nine clubs are facing action under European football's financial fair play regulations, Uefa confirmed on Saturday.
In a statement on its website, European football's governing body explained that 76 out of 237 clubs who took part in this year's Uefa competitions had been requested to submit additional information.
"From that group, the examination regarding 67 clubs has come to an end and continues only in relation to the nine remaining clubs," it said.
There was no indication of the identity of the clubs involved, but a spokesperson told AFP that only those nine would face possible action.
Many have been quick to speculate on which clubs might fall foul of the new regulations, with the names of big-spending Premier League title contenders Manchester City and Ligue 1 leaders Paris Saint-Germain (PSG) featuring prominently among the list of likely suspects in recent weeks.
Uefa's Investigatory Chamber, which led the inquiry, has powers to impose sanctions, including heavy fines and a wage cap on the squads to appear in next season's Champions League.
The sanctions package is understood to be part of a settlement offer to the clubs, which they can accept or reject or try to reach an amicable settlement.
But if a club refuses to comply with the Chamber's ruling, their case would go to a tribunal which would rule on the matter in June.
Manchester City has accumulated deficits of £97.9 million in 2012 and £51.6 million last year but was able to write off sums spent on facilities, youth development and a number of other items.
PSG effectively wiped out their annual losses of €130 million by announcing a back-dated sponsorship deal with the Qatar Tourism Authority worth up to €200 million a year.
Uefa President Michel Platini has already said he did not expect that any of the clubs involved would be barred from European competition next season.
Published in The Express Tribune, May 4th, 2014.
Nine clubs are facing action under European football's financial fair play regulations, Uefa confirmed on Saturday.
In a statement on its website, European football's governing body explained that 76 out of 237 clubs who took part in this year's Uefa competitions had been requested to submit additional information.
"From that group, the examination regarding 67 clubs has come to an end and continues only in relation to the nine remaining clubs," it said.
There was no indication of the identity of the clubs involved, but a spokesperson told AFP that only those nine would face possible action.
Many have been quick to speculate on which clubs might fall foul of the new regulations, with the names of big-spending Premier League title contenders Manchester City and Ligue 1 leaders Paris Saint-Germain (PSG) featuring prominently among the list of likely suspects in recent weeks.
Uefa's Investigatory Chamber, which led the inquiry, has powers to impose sanctions, including heavy fines and a wage cap on the squads to appear in next season's Champions League.
The sanctions package is understood to be part of a settlement offer to the clubs, which they can accept or reject or try to reach an amicable settlement.
But if a club refuses to comply with the Chamber's ruling, their case would go to a tribunal which would rule on the matter in June.
Manchester City has accumulated deficits of £97.9 million in 2012 and £51.6 million last year but was able to write off sums spent on facilities, youth development and a number of other items.
PSG effectively wiped out their annual losses of €130 million by announcing a back-dated sponsorship deal with the Qatar Tourism Authority worth up to €200 million a year.
Uefa President Michel Platini has already said he did not expect that any of the clubs involved would be barred from European competition next season.
Published in The Express Tribune, May 4th, 2014.