We care about football

Nine clubs sign settlement agreements

Published: Friday 16 May 2014, 21.56CET
Club Financial Control Body Investigatory Chamber terms have been accepted by nine clubs under investigation in relation to the Financial Fair Play break-even requirement.
Nine clubs sign settlement agreements
©UEFA.com
Published: Friday 16 May 2014, 21.56CET

Nine clubs sign settlement agreements

Club Financial Control Body Investigatory Chamber terms have been accepted by nine clubs under investigation in relation to the Financial Fair Play break-even requirement.

The Club Financial Control Body (CFCB) Investigatory Chamber today announced that the nine clubs, for which investigations were opened following non-compliance with Financial Fair Play (FFP) regulations, have individually agreed to settlement agreements.

These agreements are aimed at ensuring each club achieves break-even compliance with minimal delay, and are defined by Articles 14 (1) (b) and 15 of the Procedural Rules governing the CFCB.

Each of the settlement agreements includes some or all of the following provisions:

Break-even targets: Defined as (i) annual and aggregate break-even results as per individual summary settlements, and/or (ii) restrictions on the level of revenue from sponsorship/inter-company transactions that can be included in a club's future break-even calculation;

Sporting measures: Defined as limitations on (i) the number of players included on the 'A' list related to UEFA competitions, and/or (ii) the registration of newly-transferred players on the 'A' and 'B' squad lists related to UEFA competitions; and/or (iii) employee benefit expenses (total wages and benefits) incurred in the relevant reporting period(s); and

Financial contributions: Defined as money withheld from revenues earned from participation in UEFA competitions (for which the distribution of such money according to an agreed formula shall be communicated at a later date). Such contributions shall not impact future break-even calculations.

The nine clubs for which investigations were conducted by the CFCB Investigatory Chamber are: Bursaspor (TUR), FC Anji Makhachkala (RUS), FC Rubin Kazan (RUS), FC Zenit (RUS), Galatasaray AŞ (TUR), Manchester City FC (ENG), Paris Saint-Germain (FRA), PFC Levski Sofia (BUL) and Trabzonspor AŞ (TUR).

The individual summary settlements (in English only) are available on UEFA.org.

Each club will be subject to ongoing monitoring, and any case of non-compliance with the terms of their agreement will be automatically referred to the CFCB Adjudicatory Chamber as per Article 15 (4) of the Procedural Rules governing the CFCB.

Agreements may be reviewed by the CFCB Adjudicatory Chamber upon the request of the Chairman of the CFCB and/or upon the request of a directly affected party within ten days.

Last updated: 16/05/14 22.58CET

http://www.uefa.com/protecting-the-game/club-licensing-and-financial-fair-play/news/newsid=2106909.html#nine+clubs+sign+settlement+agreements

  • © 1998-2014 UEFA. All rights reserved.
  • The UEFA word, the UEFA logo and all marks related to UEFA competitions, are protected by trade marks and/or copyright of UEFA. No use for commercial purposes may be made of such trade marks. Use of UEFA.com signifies your agreement to the Terms and Conditions and Privacy Policy.