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UEFA Fines Man United £257,000 For Breach Of Financial Fair Play Rules

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Bala Augie
Bala Augiehttps://moneycentral.com.ng
Bala is the Editor of MoneyCentral Media. Bala is a Fellow (FCA) of the Institute of Chartered Accountants in Nigeria (ICAN) and holds a Bsc in Accounting from the University of Abuja. Bala has over 12 years’ experience in the financial journalism landscape with specialization in the Insurance, markets and Finance sectors.
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The Union of European Football Associations (UEFA) has fined Manchester United £257,000 for breach of Financial Fair Play (FFP) rules.

They were one of a number of clubs sanctioned by UEFA under FFP rules in place between 2019 and 2022.

United said they were “disappointed by the outcome”.

However, they added the club accepted the fine “for what Uefa acknowledges to be a minor technical breach of its previous Financial Fair Play rules”.

In explaining the reason for the punishment, United continued that “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 euros of the 281m euros of revenues lost due to the pandemic within the FFP calculation”.

Barcelona were also fined 500,000 euros (£428,000) by European football’s governing body.

UEFA said the Spanish club was guilty in 2022 of “wrongly reporting profits on disposal of intangible assets (other than player transfers) which are not a relevant income under the regulations”.

AC Milan, Besiktas, Inter Milan, Marseille, Monaco, Paris St-Germain and Roma were found to have complied with FFP rules in 2022 but UEFA said it “will continue monitoring their compliance with the settlement agreement during next season”.

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