Treaty United vs. Waterford Trend Finder

Barcelona, Man United fined by UEFA for breaking financial fair play rules

Fri, Jul 14, 2023
Soccer News (AP)

NYON, Switzerland (AP) - Barcelona was fined 500,000 euros ($560,000) by UEFA on Friday and Manchester United must pay 300,000 euros ($336,000) in the last round of financial monitoring using Financial Fair Play rules that have since been replaced.

Barcelona was punished for wrongly reporting profits from "disposal of intangible assets" that should not have been accounted for as income according to FFP rules, UEFA said in a statement.

Man United did not meet its target to approach break-even on soccer-related business including player transfers, wages and social taxes.

Other news Eintracht Frankfurt signs Germany under-21 forward Jessic Ngankam from Hertha Berlin Eintracht Frankfurt has signed Germany under-21 forward Jessic Ngankam from Hertha Berlin on a five-year contract. Christian Pulisic signs with US-owned AC Milan to revive his club career before home World Cup Christian Pulisic will attempt to revive his sagging club career at American-owned AC Milan leading into a home World Cup in the United States in 2026. Soccer players' union FIFPRO eyes 2023 World Cup as catalyst to professionalize women's game Global soccer players' union FIFPRO has published analysis of its members' workload during the 32 teams' road to the Women's World Cup that kicks off next week in Australia and New Zealand. Barcelona's new defender Inigo Martinez pledges to 'work as hard as the next guy' Central defender Inigo Martinez says he's prepared to "work as hard as the next guy" for Barcelona. The 32-year-old Martinez has been presented as Barcelona's new player a week after he signed a two-year contract with the Spanish champions.

UEFA's club finance panel judged Man United's offense, and similar ones by APOEL and Konyaspor, to be "minor break-even deficits." The other clubs were each fined 100,000 euros ($112,000).

A group of storied clubs - including AC Milan, Inter Milan and Paris Saint-Germain - who were fined by UEFA last September all met their stricter financial targets for last season. They will continue to be monitored for compliance over the next year.

Istanbul Basaksehir did not meet its targets and was fined 400,000 euros ($448,000).

Two clubs failing to meet break-even targets in new cases were new Belgian champion Royal Antwerp and Trabzonspor. Each must pay 300,000 euros ($336,000) now with conditional fines of up to 1.7 million euros ($1.91 million) more due if subsequent targets are missed.

UEFA has updated the FFP rules that were approved in 2009 with a new monitoring system. It prioritizes financial sustainability for clubs and moved away from setting competitive balance on the field as an achievable target.

___

More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports

"

Article Copyright © 2023 The Associated Press, All Rights Reserved.