October 8 – Turkish giants Galatasaray AŞ who seemingly have spent as much time fighting UEFA over financial fair play breakeven regulations as they have competing in European club competitions, are back in hot water with UEFA’s the Club Financial Control Body (CFCB).
The club had been negotiating a settlement agreement after with the CFCB but has now been put back to the investigatory chamber despite an agreement in principle being reached in June.
“Following the decision of the Chief Investigator of the Club Financial Control Body (CFCB) to conclude a settlement agreement with Galatasaray AŞ and the subsequent decision of the CFCB Chairman to send it for review by the CFCB Adjudicatory Chamber, the latter announced today its decision to refer the case back to the CFCB Investigatory Chamber for further investigation. Meanwhile, the settlement agreement concluded on 13 June 2018 remains in force, until further notice,” said a UEFA press release.
The June agreement states the club will achieve its forecast break-even deficit €20 million for the reporting period ending in 2019; and of €10 million for the reporting period ending in 2020.
The club were also subject to a fine of up to €15 million or which €6 million will be unconditionally held by UEFA from prize money due to the club, with a further €9 million coming into force if it breaks the terms of the agreement.
The club also agreed to limit the number of players registered for European competition to 21 and to limit its transfer spending.
The June agreement states: “If the Club fails to comply with any provision of the Settlement Agreement and the Settlement Agreement does not already expressly provide for the consequence of such failure to comply, the CFCB Chief Investigator shall refer the case to the CFCB Adjudicatory Chamber in accordance with Article 15 (4) of the Procedural Rules.”
This is not the first time Galatasaray have faced exclusion from European competition, having been thrown out for a season for breaching financial fair play rules in 2016 and missing 2016/17 UEFA competition. In 2014 UEFA fined them €200,000 and required them to break even on football-related trading over a three-year period.
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