Manchester City and PSG fined €60 million by UEFA for infringement of FFP rules
Manchester City and Paris Saint German have been found guilty of non-compliance with regards to UEFA’s financial fair play (FFP) rules and they will have to pay a fine amount of €60 million.
UEFA have also capped their squad sizes to 21 for the next season of the Champions League.
The FFP rules demand financial balance from clubs playing in the Champions League or Europa League and its main motive is to stabilise the issue of lavish spending by club owners.
City owner Sheikh Mansour and PSG’s Qatari owners have agreed to the sanctions and will cut down their spending spree as a part of settlement for breaking the FFP rules.
However, if both the clubs succeed in following UEFA’s terms for the next two seasons, €40 million will be returned back from their fine amount.
In an official statement, City representatives stated that they had to agree to UEFA’s terms with much hesitance. They could have faced a Champions League suspension from next season if they would have kept on resisting.
City said, “In normal circumstances, the club would wish to pursue its case and present its position through every avenue of recourse.”
“However, our decision to do so must be balanced against the practical realities for our fans, for our partners and in the interests of the commercial operations of the club.” it added.
The wage bills of the players cannot be increased for the next two seasons as a part of the agreement.
Man City are fined £49m and capped to a 21-man Champions League squad after failing Uefa financial fair play rules http://t.co/oAWF88PEf8
— BBC Sport (@BBCSport) May 16, 2014
UEFA fine Manchester City, PSG 60 million euros, cap Champions League squad to 21 http://t.co/IPR4OgIi25
— Agence France-Presse (@AFP) May 16, 2014