July 14, (THEWILL) – UEFA has confirmed that Manchester United and Barcelona have been fined for failing to comply with the association’s financial regulations.
The European governing body had been closely monitoring the financial dealings of several clubs between 2019 and 2022 due to concerns over potential rule violations. Following the submission of all financial reports, UEFA reviewed the numbers and determined that both United and Barca fell slightly short of the requirements, resulting in minor fines.
Man Utd, which reported “minor break-even deficits,” has been issued a €300,000 fine. This amount is three times higher than the fines given to Konyaspor and APOEL FC from Turkey and Cyprus, respectively, who were also in a similar situation. Barcelona, on the other hand, has been fined €500,000 due to the misreporting of “profits on disposal of intangible assets (other than player transfers),” which are not considered relevant income according to the regulations.
In addition to these fines, UEFA had set financial targets for nine other clubs during the 2022/2023 season. Lille, a French side, successfully met the criteria and has been removed from the watch list. AC Milan, Monaco, Roma, Besiktas, Inter, Marseille, and PSG all achieved their targets for the 2022 financial year but will continue to be monitored to ensure compliance in 2023. Istanbul Basaksehir of Turkey, however, fell short of their targets and was fined €400,000.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
