Manchester City Accepts UEFA Settlement Agreement
Mon 19th May 2014 | UEFA
Manchester City have accepted the settlement agreement proposed by UEFA for breach of Financial Fair Play regulations.
City, along with Paris Saint-Germain and seven other clubs have all signed settlement agreements offered by the Club Financial Control Body (CFCB) Investigatory Chamber, the body set up by UEFA to manage the new financial rules.
The agreements are aimed at ensuring each club achieves break-even compliance with minimal delay, and are defined by Articles 14 (1) (b) and 15 of the Procedural Rules governing the CFCB (http://uefa.to/1ekZ94F).
The nine clubs for which investigations were conducted by the CFCB Investigatory Chamber are: Bursaspor (TUR), FC Anji Makhachkala (RUS), FC Rubin Kazan (RUS), FC Zenit (RUS), Galatasaray AŞ (TUR), Manchester City FC (ENG), Paris Saint-Germain (FRA), PFC Levski Sofia (BUL) and Trabzonspor AŞ (TUR).
Each club will be subject to ongoing monitoring, and any case of non-compliance with the terms of their agreement will be automatically referred to the CFCB Adjudicatory Chamber as per Article 15 (4) of the Procedural Rules governing the CFCB.
It had been expected that City would appeal against the sanctions which include a fine of £49m, £32m of which is suspended, plus a 21 player restriction of its Champions League squad next season but decided against stating the decision was made after weighing up the practical realities for their fans, partners and the club’s commercial operations.
A statement on the club’s official website read, “From the outset, the Club has engaged with UEFA in its introduction of the Financial Fair Play Regulations in good faith and without prejudice and in a transparent and collaborative manner. The Club’s position is that it is beholden upon UEFA and the European football establishment to ensure the same.
“The Club can confirm that it has been in discussions with UEFA over the last month - in relation to the application of Financial Fair Play regulations - as has been widely reported and communicated by UEFA.
“At the heart of those discussions is a fundamental disagreement between the Club’s and UEFA’s respective interpretations of the FFP regulations on players purchased before 2010. The Club believes it has complied with the FFP regulations on this and all other matters.
“In normal circumstances, the Club would wish to pursue its case and present its position through every avenue of recourse. However, our decision to do so must be balanced against the practical realities for our fans, for our partners and in the interests of the commercial operations of the Club.
“As a result of these considerations and the fact that the Club is now break even in its operations, the Club has decided to enter into a compromise agreement with UEFA.”
The European Club Association which has always been supportive of Financial Fair Play (FFP) welcomed the fact that UEFA is taking the implementation of the rules seriously.
Commenting on the matter, ECA Chairman Karl-Heinz Rummenigge said, "Financial Fair Play is a bonus for the clubs, as it helps them to control costs. The European clubs are supporting such goal. As we have seen today, UEFA applies Financial Fair Play very consistently.
“Therefore, I call on all clubs in Europe to respect the rules and continue on the path we have chosen together with UEFA."
Image: Action Images / Carl Recine
Posted by: Aaron Gourley
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