UEFA to keep monitoring financial situations of four Turkish clubs

GENEVA - Anadolu Agency

Galatasaray chairman Mustafa Cengiz (file photo)

UEFA on June 13 decided to keep monitoring the financial situations of eight clubs, which are under the settlement regime in the season 2018/19 including four Turkish clubs, Galatasaray, Fenerbahçe, Beşiktaş and Trabzonspor.

"With the conclusion of two new agreements, eight clubs are under the settlement regime in the season 2018/19: FC Astana, Beşiktaş JK, Fenerbahçe SK, Galatasaray SK, FC Internazionale Milano, Maccabi Tel Aviv, FC Porto and Trabzonspor AS," UEFA said in a statement on Wednesday.

According to the settlement regime, two clubs, Galatasaray and Maccabi Tel Aviv, were not in compliance with the break-even requirement and have agreed to conclude settlement agreements.

UEFA and Galatasaray made four-year agreement. The settlement agreement with Galatasaray covers the sporting seasons 2018/19, 2019/20, 2020/21 and 2021/22.

Galatasaray undertakes to reach full break-even compliance by monitoring period 2021/22 and agrees to report a maximum break-even deficit as reported in its forecast for the financial year ending in 2018, €20 million ($24 million) in financial year ending in 2019 and €10 million ($12 million) for the financial year ending in 2020.

"Galatasaray agrees to pay a total amount up to €15 million [$18 million], which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2017/18. Of this amount, €6m [$7 million] shall be paid in full, irrespective of any early exit from the settlement regime," UEFA said.

"Payment of the remaining €9 million [$11 million] is conditional and may be withheld in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement," UEFA said.

"Galatasaray accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for seasons 2018/19 to 2021/22, Galatasaray may only register a maximum of 21 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations."

These restriction would be lifted for season 2019/20 to 22 players, for season 2020/21 to 23 players and for season 2021/22 to 25 players.

Maccabi Tel Aviv

The settlement agreement with Maccabi Tel Aviv covers the sporting seasons 2018/19, 2019/20 and 2020/21. Maccabi Tel Aviv undertakes to reach full break-even compliance by monitoring period 2020/21.

Israeli club agrees to report a maximum break-even deficit of €20 million for the financial year ending in 2018 and €10 million in financial year ending in 2019.

"Maccabi Tel Aviv agrees to pay a total amount up to €1 million ($1.2 million), which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2017/18. Of this amount, €200,000 [$235,721] shall be paid in full, irrespective of any early exit from the settlement regime," UEFA said.

"Payment of the remaining €800,000 [$942,660] is conditional and may be withheld in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement," UEFA said.

"Maccabi Tel Aviv FC accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2018/19, it may only register a maximum of 22 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations," UEFA said.

Other clubs

FC Krasnodar, FC Lokomotiv Moscow, AS Monaco FC, AS Roma and FC Zenit St Petersburg were in compliance with the requirements and overall objective of their agreements and these clubs have all exited the settlement regime, UEFA said.

"FC Astana, Beşiktaş JK and FC Porto have complied with the targets set for season 2017/18 and will remain in the settlement regime. The settlement regime will continue to apply for season 2018/19 for both FC Astana and Beşiktaş JK; and up to and including season 2020/21 for FC Porto; as originally foreseen," it said.

"The CFCB Investigatory Chamber further concluded that Fenerbahçe SK, FC Internazionale Milano and Trabzonspor AS have partially fulfilled the targets set for season 2017/18," the UEFA said.

"As a consequence, the foreseen conditional sporting measures, such as the transfer restrictions and the limitation on the number of players in the List A, will not be lifted and will continue to apply in the season 2018/19," it added.

The settlement regime will continue to apply for season 2018/19 for both FC Internazionale Milano and Trabzonspor AS; and up to and including season 2019/20 for Fenerbahçe SK, UEFA said.

"The CFCB Investigatory Chamber decided to refer the case of FC Rubin Kazan to the CFCB Adjudicatory Chamber as the club breached its settlement agreement signed in May 2014. Indeed, the club failed to comply with the break-even requirement during the monitoring period assessed in the season 2017/18," UEFA said.

The CFCB Investigatory Chamber also decided to close the investigation into Paris Saint-Germain.

"Such decision follows a detailed review of transfer contracts and an analysis of the related management accounts which confirmed that such transactions were in line with the UEFA Club Licensing & Financial Fair Play Regulations," the UEFA said.

The CFCB Investigatory Chamber further decided to impose a fine of €100,000 ($117,855) on Olympique de Marseille for a minor breach of the break-even requirement in monitoring period 2017/18. The club will continue to be under monitoring of the break-even requirement for the period 2018/19.