PSG cleared of FFP breach but still need to sell players

14 Juin, 2018, 04:08 | Auteur: Adelaide Bullion
  • PSG cleared of FFP breach but still need to sell players

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.

Donald Trump and Kim Jong Un's Historic Summit in Singapore
At one point, Trump pointed down to the ground and Kim seemed to nod, playing along in what was a carefully choreographed moment. Kim and Trump will first meet one-on-one in a closed session, before a larger meeting with key advisers, USA officials said.

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.

Trudeau 'stabbed us in back' on trade, says Trump chief economic adviser
Speaking to Fox News , Kudlow said: "He is very seriously contemplating kind of a shift in the NAFTA negotiations". Trump has infuriated the European Union, Canada and Mexico by imposing tariffs on steel and aluminum imports.

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

Newshour, Summit could give South Korea 'hope for peace'
They then moved into a roughly 40-minute one-on-one meeting, joined only by their interpreters, before including their advisers. For Kim, one of the chief tasks from the summit - a legitimizing photo-op with a US president - is now all but guaranteed.

Excitement high, expectations lower as Trump and Kim set to meet
The US wants North Korea to get rid of its nuclear weapons in an irreversible manner that can be verified by the global community. For the first time since the division of the Korean Peninsula, the leaders of the two countries held a summit in June 2000.

Hold The Phone - Are Justin Bieber & Hailey Baldwin Back Together??
Bieber and Baldwin attended the VOUS Church Conference on Saturday and Sunday, before hitting up LIV at Fontainebleau together. Bieber and Baldwin, 24 and 21 respectively, were seen departing Florida via a private jet on Tuesday.

Singer Ariana Grande And Comedian Pete Davidson Got Engaged
PEOPLE magazine says he popped the question last week. "It's nothing they've been hiding". "It's a recent engagement". It's a 3.03 carat diamond set in platinum made by NYC jeweler Greg Yuna, also known as Mr.

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.

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.

Federal Reserve bumps up United States interest rate, signals two more in 2018
The Fed anticipates that inflation will overshoot its 2% target this year; in March, officials saw that happening only in 2020. Powell has repeatedly played down the dot plot as a guide to future interest rates, though investors continue to focus on it.

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.

Student-athletes no longer need permission from schools to transfer
As expected, the NCAA's Division I Council adopted a new rule Wednesday that will change the way transfers take place. Once the individual's name is in the database, coaches at other institutions have free reign to contact the student.