City, PSG slapped with €60m fine by UEFA
Juggernauts suffer from financial fair play rules.
Both Manchester City and PSG have paid with massive fines, €40 million of which will be repaid should the clubs fulfil the ‘operational and financial measures.
NYON:
Uefa fined giants Manchester City and Paris Saint-Germain (PSG) €60 million and capped their Champions League squad to 21 for falling foul of Financial Fair Play (FFP) rules.
Newly-crowned English Premier League champions, Manchester City enjoyed a massive spending spree under billionaire owner Sheikh Mansour bin Zayed al-Nahyan of Abu Dhabi.
And French Ligue 1 champions PSG have benefitted from similar investment in top-drawer players after their takeover by Qatar Sports Investments in late 2012.
But both clubs have paid for that with massive fines, €40 million of which will be repaid should the clubs fulfil the ‘operational and financial measures agreed with the Uefa Club Financial Control Body’.
Uefa said other clubs to have failed the financial fairplay rules were Turkish trio Buraspor, Galatasaray and Trabzonspor, Russian sides Zenit St Petersburg, Anzhi Makhachkala and Rubin Kazan, and Levski Sofia from Bulgaria.
Both City and PSG battled Uefa through to the end, the former arguing there had been, ‘a fundamental disagreement’ over the interpretation of the FFP regulations on players purchased before 2010 but that it had “decided to enter into a compromise agreement with Uefa”.
They agreed, the statement read, to limit their net spending on new players to €60 million.
Published in The Express Tribune, May 18th, 2014.
Uefa fined giants Manchester City and Paris Saint-Germain (PSG) €60 million and capped their Champions League squad to 21 for falling foul of Financial Fair Play (FFP) rules.
Newly-crowned English Premier League champions, Manchester City enjoyed a massive spending spree under billionaire owner Sheikh Mansour bin Zayed al-Nahyan of Abu Dhabi.
And French Ligue 1 champions PSG have benefitted from similar investment in top-drawer players after their takeover by Qatar Sports Investments in late 2012.
But both clubs have paid for that with massive fines, €40 million of which will be repaid should the clubs fulfil the ‘operational and financial measures agreed with the Uefa Club Financial Control Body’.
Uefa said other clubs to have failed the financial fairplay rules were Turkish trio Buraspor, Galatasaray and Trabzonspor, Russian sides Zenit St Petersburg, Anzhi Makhachkala and Rubin Kazan, and Levski Sofia from Bulgaria.
Both City and PSG battled Uefa through to the end, the former arguing there had been, ‘a fundamental disagreement’ over the interpretation of the FFP regulations on players purchased before 2010 but that it had “decided to enter into a compromise agreement with Uefa”.
They agreed, the statement read, to limit their net spending on new players to €60 million.
Published in The Express Tribune, May 18th, 2014.