UEFA to name financial fair play offenders in April
By Brian Homewood
NYON, Switzerland (Reuters) - Seventy-six European clubs are under the microscope as UEFA prepares to bring in its financial fair play rules next season, European soccer's governing body said on Friday, adding that offenders would be named in April.
UEFA secretary general Gianni Infantino said 76 European clubs out of 237 originally assessed had been asked to submit additional information about their finances ahead of the new rules which come into full effect next season.
In April, the Club Financial Control Board (CFCB), which is responsible for implementing the new rules, will announce which of those cases have been dismissed and which will be referred to its disciplinary panel for sanctions.
The final decisions, which could include bans from European competition in the most serious cases, will be announced in June.
UEFA's so-called financial fair play rules are being introduced to force clubs to live within their means and prevent those with rich owners from simply spending their way to success.
In principle, clubs cannot spend more than their generated revenue although they are allowed cash injections of up to 45 million euros ($62.2 million) over three years. Spending on training facilities and youth development is exempt.
"UEFA is taking the lead to protect European football from greed, from reckless spending and financial insanity," Infantino told reporters.
"Financial Fair Play basically proposes helping the clubs to live within their revenues in a sustainable way," he added. Continued...