PSG cleared of FFP breach but still need to sell players

14 Juin, 2018, 04:08 | Auteur: Adelaide Bullion
  • PSG ordered to raise €60m to satisfy Uefa’s FFP rules

They were cleared of breaching FFP rules, but the French club's transfer dealings from last summer onwards will remain "under close scrutiny".

The decision followed a detailed review of transfer contracts and analysis of the related management accounts, UEFA said.

But it is understood that in order to balance the books for the current financial year, which ends on 30 June, they need to raise money from player sales.

A statement released by UEFA read: "The CFCB (Club Financial Control Body) made a decision to close the investigation into Paris Saint-Germain".

UEFA said it had closed the investigation and that the club's transfers from that period "were in line with the UEFA Club Licensing and Financial Fair Play Regulations".

It added that PSG's results for the financial years ending in 2015, 2016 and 2017 were accepted under the break-even rule, known as Financial Fair Play.

Trump Attorney Michael Cohen Splits With His Legal Team
Cohen is reportedly telling associates he expects to be arrested "any day now". Cohen also didn't respond to a request for comment. National security lawyer Bradley P.

Spain sack manager Julen Lopetegui on eve of tournament
While not a first foray into management for Hierro, the RFEF's sporting director, it is nevertheless a daunting task that awaits. The daunting task of refocusing the team on Friday's match against European champion Portugal is now on Hierro's shoulders.

Trump Identifies Media as ‘Our Country’s Biggest Enemy’ After North Korea Summit
President Donald Trump declared the biggest enemy of the United States to be "the Fake News" in a tweet on Wednesday. Dear journalists, once again: When someone declares war on you and on freedom of expression, you have two options.

United Kingdom newspaper the Financial Times reported in April that PSG could be sanctioned under FFP rules having secured sponsorship deals valued at more than the fair market rate.

It came after PSG broke the world record transfer fee in August 2017 when they signed Neymar for £200m.

UEFA opened an investigation into PSG's compliance with FFP rules at the start of this season, just weeks after they completed deals to sign Neymar and Kylian Mbappe.

After looking into PSG's accounts for nine months, UEFA's Club Financial Control Commission (ICFC) have decided not to punish the Paris club, who have been firmly under an FFP spotlight throughout the entire year.

"The financial impact of transfer activities as from the 2017 summer - up to and including the upcoming transfer window - and compliance with the break-even requirement for the 2018 financial year will remain under close scrutiny and will be thoroughly looked at in the coming weeks".

Conseillé:



Populaire

Negotiators scramble to put something together for Trump and Kim
Traffic was held up in the steamy midday sun and scores of bystanders were penned in by police when Trump went to meet Lee. Word does get around, however, and the prospect of a meeting between Kim and Trump had already been on the public's radar.

John Boyega Speaks Out On Harassment of Star Wars Actors
Now, with The Classic Star Wars Gamer Bundle , you can celebrate the fandom even more for the low price of $6.60 ($US5). Excerpt provided by Insight Editions from James Cameron's Story of Science Fiction .

Five Labour frontbenchers quit over Brexit vote
If that wasn't bad enough, they rebelled in different directions, with 75 voting for EEA membership, and 15 voting against. A total of 89 Labour MPs defied Corbyn in the vote on this amendment, making it the party's biggest Brexit rebellion yet.

Kansas City In The Running To Host World Cup Soccer In 2026
The bid group has been working under the premise of three cities in each of Canada and Mexico and 10 in the United States. The World Cup in 1994 changed everything for the sport and help build a fanbase that grew into what it is today.

Stella McCartney says Meghan’s gown was last chance to reflect ‘joy’
Her great-great grandmother Mary was born here and she says there's something magical about "fitting in a piece of the puzzle". Instead, front and center with Queen Elizabeth and Prince Charles was Kate Middleton, the Duchess of Cambridge .

Fox Merger Eyed After AT&T-Time Warner Ruling
Outside of court, however, critics of the lawsuit pointed to Trump's frequent criticism of CNN , which is owned by Time Warner. But hey, if Comcast does wind up with Fox, you can just change your dreams and begin contemplating a world where Alien vs.

Shameful handling of migrant ship shows need for EU asylum reform
In practice, this has placed a heavy burden on Italy and Greece, where hundreds of thousands of people have entered in recent years.

Childish Gambino performs ‘This is America’ at Chance the Rapper’s OpenMike
Students gathered at the Harold Washington Library Center Monday to see the talents of their peers - but they were in for a treat.

Garmin's newest Vivoactive 3 smartwatch adds music, improved sleep tracking
But the watch had a couple of drawbacks - namely that it lacked advanced sleep-tracking analysis and offline music storage. The Garmin Vivoactive 3 Music is really for those who will take advantage of its music storage and offline listening.

Federal Bureau of Investigation agent charged with assault after firing gun while backflipping
It showed a man-now suspected to be Bishop-dancing and doing a backflip late at night in a Denver bar called Mile High Spirits. Mile High Spirits, the Denver distillery where incident occurred, released a statement on Facebook.