Paris Saint-Germain will pay UEFA $10M for breaking football club financial rules

Paris Saint-Germain will pay UEFA $10M for breaking football club financial rules

GENEVA (AP) — Paris Saint-Germain must pay 10 million euros ($10 million) for breaking UEFA financial rules, and seven other clubs have also been punished for overspending since 2018.

UEFA said the club’s financial auditors had ordered 26 million euros in prize money from European competitions to be frozen from eight clubs approved under Financial Fair Play rules.

UEFA said that if the clubs fail to meet the financial targets they agreed to with the settlement deal over the next three to four years, they will be penalized 146 million euros.

PSG will cut the biggest amount. A host of Italian clubs were in line: Roma had to forfeit €5 million in prize money, Inter Milan €4 million, Juventus €3.5 million and AC Milan €2 million.

French champions PSG declined to comment on the case, which covers the 2021-22 season when Lionel Messi was added to a super forward line that already featured Kylian Mbappe and Neymar.

“We will continue with confidence on a better path towards financial sustainability,” AC Milan said in a statement. The Italian champion was bought this week by American investors RedBird Capital Partners in a €1.2 billion deal that included the New York Yankees. minority partner

Other deductions imposed by UEFA are €600,000 from Besiktas and €300,000 each from Marseille and Monaco.

The bans, covering four financial years from 2018 – including two seasons when club revenues were hit hard by the COVID-19 pandemic – are to be the last major round of cases under the FFP rules that UEFA announced in April. It will be modified now.

UEFA launched FFP a decade ago to monitor the revenue and expenditure of clubs eligible to play in its club competitions to ensure they break even in football-related business. Clubs were allowed unlimited spending on stadiums and youth development projects.

Qatar-backed PSG had to pay UEFA €20 million in 2014, when Abu Dhabi-owned Manchester City had to pay the same amount, in the first round of FFP cases.

Man City were among 19 clubs named that only met the break-even criterion in technical terms, UEFA said, such as concessions for pandemic seasons when most matches were played without fans. Other clubs in this category were Barcelona, ​​Borussia Dortmund, Chelsea, Sevilla and West Ham.

Among other cases, Champions League team Porto was threatened with a one-season ban from UEFA competitions if it failed to meet the new break-even target.

The cases were investigated by a panel whose new chairman is Sunil Gulati, a former president of the United States Soccer Federation and a member of FIFA’s executive committee who is a professor of economics at Columbia University.

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