Man United Fined: Manchester United have been fined €300,000 by UEFA’s Club Financial Control Body (CFCB). The fine has been imposed due to a minor Financial Fair Play breach. UEFA updated their FFP rules last year that prioritises the financial sustainability of a club. As a result, several clubs in the continent are being monitored by the CFCB. However, the losses related to Covid also happened during this transition period. This has put a dent on many clubs’ ability to follow through with FFP guidelines including Man United.
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UEFA have handed Manchester United a hefty €300,000 fine for not being able to meet their breakeven target. The target refers to their football-related business that includes social taxes, wages, and player transfers. Man United have acknowledged the FFP breach and described it as ‘a minor technical breach’. Following the punishment, they released a statement that said, “While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules.”
It further said, “This reflected a change in the way that UEFA adjusted for Covid-19 losses during the 2022 reporting period, which allowed us to recognise only €15m of the €281m of revenues lost due to the pandemic within the FFP calculation. Post-pandemic, the club’s revenues have recovered strongly and are forecast to reach a record level in the current financial year. The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”
Man United clearly expressed their disappointment that UEFA were not more flexible over the Covid-related losses. Similar to many other clubs, the Red Devils incurred a huge loss during the Covid-impacted seasons. They failed to adjust €47 million of their Covid-related losses during the 2022 monitoring period. This happened mainly due to the sudden FFP rule change brought on by UEFA last year. This loss amount was in addition to their €234 million Covid-related loss during the 2019-20 and 2020-21 seasons.
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Man United can at least take reassurances in the fact that this punishment will not interfere with their transfer plans this summer. However, they could cite how the Premier League allowed the adjustments for 2022. This enabled them to follow through with the domestic FFP rules. Man United are not the only ones that have been put under the microscope by UEFA. Several other clubs are being observed as the new FFP regulations last round of monitoring. Barcelona have also been handed a €500,000 fine.
Barcelona reported wrong profits by including ‘disposal of tangible assets’ which don’t fall under the FFP rules’ relevant income sources. Additionally, Inter Milan, AC Milan, PSG, and Roma are also being monitored by the CFCB. However, reportedly, all four clubs have fulfilled their financial year 2022’s targets. Moreover, Apoel and Konyaspor were fined €100,000 for breaching similar rules as Manchester United. Whereas, Istanbul Basaksehir were fined €400,000 for not meeting their financial year 2022’s targets. It can be guessed that more clubs could still come under fire.
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