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Clubs accused of breaking FFP rules to discover fate next month

Fri 5th Oct 2012 | Money & Finance

The 23 clubs that have been accused of breaking UEFA’s Financial Fair Play (FFP) rules will discover their fate early next month.

Last month, UEFA announced that Atletico Madrid, along with Spanish Primera Division counterpart Malaga, Portugal’s Sporting Lisbon and Turkey’s Fenerbahce were amongst 23 clubs competing in European competition which had been found to have “important overdue payables towards other clubs, and/or towards employees or social/tax authorities”. As a result, UEFA said its Club Financial Control Body’s investigatory chamber, chaired by former Belgian Prime Minister Jean-Luc Dehaene, had temporarily withheld the clubs’ prize money pending further investigation.

The clubs have until October 15 to convince UEFA of their plans to pay a combined Eur30 million in unpaid players’ wages, transfer fees and taxes. UEFA’s director of club licensing Andrea Traverso told the Associated Press on Thursday that his department would refer cases of the clubs that are still behind in their payments to an independent judicial body chaired by Dehaene. The body will meet in early November.

“It’s not just a project anymore, we’re into the application phase now and it has the support of the entire football family,” Traverso said. The report stated that European club debts had decreased by 47% in the 2011-12 compared to the previous campaign. “That means the clubs are taking this seriously,” Traverso said.

Posted by: Kev Howland

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