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PSG To Pay UEFA €10m For Breaking Soccer Club Finance Rules

by Dapo Sotuminu
3 years ago
in Sport Economy
Reading Time: 1 min read
PSG
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Paris Saint-Germain must pay €10-million ($10-million) for breaking UEFA financial rules, with seven other clubs also punished for overspending since 2018.

UEFA said its club finance investigators ordered prize money from European competitions totaling €26-million ($26.1-million) to be withheld from the eight clubs sanctioned under Financial Fair Play rules.

A further €146-million ($146.4-million) in total punishments could be imposed if the clubs fail to meet financial targets in the next three to four years, they have agreed to in settlement deals, UEFA said.

 

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PSG will have the biggest amount deducted with a group of Italian clubs next in line: Roma must forfeit prize money of €5-million ($5-million), Inter Milan €4-million ($4-million), Juventus €3.5-million ($3.5-million) and AC Milan €2-million ($2-million).

The other deductions imposed were €600,000 ($600,000) from Besiktas and €300,000 ($300,000) each from Marseille and Monaco.

 

 

 

 

The sanctions covering the financial years from 2018-22 – including two seasons when club revenue was severely hit by the COVID-19 pandemic – should be the last major round of cases under the FFP rules that UEFA announced in April will now be modified.

UEFA launched FFP a decade ago to monitor the revenue and spending of clubs that qualify to play in its club competitions to ensure they approach break-even on their soccer-related business. Clubs were allowed unlimited spending on stadium and youth development projects.

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

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