Tag

Financial Fair Play

All articles tagged with #financial fair play

sports1 year ago•8 min saved

"Man City Gains Support in Legal Battle Against Premier League Charges"

Manchester City has filed a lawsuit against the Premier League over new rules governing "associated party transactions" (APTs), arguing they violate UK competition law. The case, to be heard by an arbitration tribunal, could have significant implications, potentially allowing club owners to inject unlimited funds into their teams via sponsorship deals. This could disrupt the financial balance in European football and impact the Premier League's ongoing case against City for alleged financial rule breaches. The outcome of the arbitration is expected within two weeks of the June 10 hearing.

via ESPN|

#financial-fair-play #lawsuit #manchester-city

sports1 year ago•6 min saved

"Premier League Charges Leicester City for Alleged Financial Breaches"

Leicester City has been referred to an independent commission by the Premier League for an alleged breach of profit and sustainability rules (PSR) during the 2022-23 season, which saw them relegated from the Premier League. The club has expressed disappointment with the decision and is prepared to defend itself. This comes as the third PSR breach charge this season, with Everton and Nottingham Forest also facing similar allegations. Leicester's financial situation and compliance with PSR rules are under scrutiny, with potential implications for their future in the Championship.

via The Athletic|

#championship #financial-fair-play #leicester-city

sports2 years ago•6 min saved

Everton's Premier League Penalty Reduced to Six Points After Appeal

Everton's 10-point Premier League penalty for breaching financial fair play rules has been reduced to six points after an appeal, moving them up to 15th in the Premier League. The club called the original decision "wholly disproportionate and unjust" and appealed, resulting in four points being restored. This reduction is seen as a positive for the club, but they still face a second PSR breach charge for the 2022-23 season, potentially impacting their status in the top flight of English football.

via The Athletic|

#appeal #everton #financial-fair-play

sports2 years ago•4 min saved

"UEFA President Ceferin Stands Firm on Term Limits Amid Controversy"

The Football Association stood alone in voting against a controversial reform at the UEFA congress, which would have allowed president Aleksander Čeferin to run for an unprecedented fourth term. Despite the FA's opposition, the reform passed with overwhelming support from other member states. Čeferin later announced that he had decided not to run for another term, citing the need for fresh leadership and time with his family. The reform was part of a wider package that included increasing the number of women on UEFA's executive committee and clarifying consequences for potential breakaway competitions. The vote is seen as a rare breaking from ranks within UEFA, and comes amid ongoing disquiet within the governing body.

via The Mirror|

#aleksander-ceferin #financial-fair-play #football-association

sports2 years ago•8 min saved

"Premier League Clubs Everton and Nottingham Forest Face Financial Breach Charges"

Everton is facing another potential points deduction for an alleged breach of Premier League finance rules, following a 10-point deduction imposed in November for a previous breach. The club's survival hopes may hinge on the outcome of two upcoming hearings, with the 2022-23 accounts expected to reflect upheaval including managerial changes and the impact of losses due to the suspension of partnerships with Russian companies. Everton's legal team will challenge the severity of the sporting sanction and argue mitigating factors, while the club questions the fairness of potentially receiving two sporting sanctions in the same season.

via The Athletic|

#everton #financial-fair-play #points-deduction

sports2 years ago•6 min saved

"Everton and Nottingham Forest Face Independent Commission Over FFP Breach Allegations"

Everton and Nottingham Forest have been referred to an independent commission over alleged breaches of the Premier League’s profitability and sustainability regulations. Both clubs are at risk of fines or points deductions, with Everton already appealing a 10-point deduction. New guidelines aim to fast-track decisions on breaches, potentially impacting clubs' league positions and divisions for the following season. The charges stem from reported losses exceeding allowed amounts over the three-year reporting cycle, with Everton's financial mismanagement and Forest's transfer dealings under scrutiny.

via The Athletic|

#everton #financial-fair-play #nottingham-forest

sports2 years ago•7 min saved

"Newcastle's Loan Deal for Lewis Hall: A Win-Win for All Parties"

Newcastle United's financial situation under the constraints of Financial Fair Play (FFP) has led them to pursue a loan with an obligation to buy deal for Chelsea's Lewis Hall. Newcastle's spending has been limited due to FFP regulations, and the loan arrangement allows them to delay the transfer fee's impact on their FFP position until the deal becomes permanent. Hall, a versatile and highly rated player, provides Newcastle with squad depth and potential England honors, while Chelsea benefits from the sale to generate profit and create flexibility in the transfer market.

via The Athletic|

#chelsea #financial-fair-play #lewis-hall

sports2 years ago•1 min saved

"Juventus Faces European Football Ban for Upcoming Season"

Italian football club Juventus has been banned from participating in European competition next season by UEFA after being found guilty of breaking Financial Fair Play rules. The club has been accused of false accounting, which allegedly increased its capital by 700 million euros. Juventus will also have to pay a 10 million euro fine, which could double if the club fails to meet FFP requirements in the next three years. The club's management denies any wrongdoing but has decided not to appeal the decision to avoid further penalties.

via Euronews|

#european-football #false-accounting #financial-fair-play

sports2 years ago•2 min saved

UEFA Imposes One-Year Ban on Juventus from European Competitions for FFP Breach

Juventus has been banned from European competitions for one year and fined €20 million by UEFA for breaching club licensing and financial fair play regulations. The ban means Juventus will not participate in the 2023-24 Europa Conference League, and Fiorentina is likely to replace them. The Italian FA will submit an entry form for the next club in the Serie A standings to take Juventus' place. This ban also affects Aston Villa's seeding in the play-offs. UEFA's investigation focused on alleged financial violations related to player registration rights between 2019 and 2021. Juventus had previously faced sanctions for financial malpractice, including a 10-point deduction in Serie A. The club denies any wrongdoing.

via The Athletic|

#ban #european-competitions #financial-fair-play

sports2 years ago•1 min saved

Newcastle United's Saint-Maximin Sale Ensures Premier League Satisfaction

Newcastle United manager Eddie Howe assures that the potential sale of Allan Saint-Maximin to Al Ahli will be conducted properly and in compliance with Premier League regulations. Concerns have been raised by other clubs about the deal, as Al Ahli is owned by Saudi Arabia's Public Investment Fund (PIF), which also owns 80% of Newcastle. There are claims that the PIF link is being used to inflate the transfer fee and help Newcastle comply with financial fair play rules. Howe remains hopeful about signing midfielder Harvey Barnes from Leicester and potentially having him join the club's pre-season tour to the US.

via The Athletic|

#al-ahli #allan-saint-maximin #financial-fair-play

sports2 years ago•1 min saved

UEFA Fines Manchester United and Barcelona for FFP Violations

Manchester United and Barcelona have been fined by UEFA for breaching Financial Fair Play (FFP) rules. United's offense was reporting minor break-even deficits, while Barcelona was fined for wrongly reporting profits on non-player sales. The fines, totaling €300,000 and €500,000 respectively, were based on previous FFP rules and will not impact their transfer budgets for this summer. Other clubs, including Porto and Anderlecht, were also fined, while several clubs avoided punishments.

via The Athletic|

#barcelona #ffp-breaches #financial-fair-play

sports2 years ago•1 min saved

UEFA Fines Man United and Barcelona for Financial Fair Play Violations

Manchester United and Barcelona have been fined by UEFA for breaching the financial fair play regulations. United received a €300,000 fine for minor deficits between 2019 and 2022, while Barcelona was fined €500,000 for wrongly reporting profits on intangible assets in 2022. The financial fair play rules were introduced by UEFA in 2009 to prevent clubs from overspending and risking their long-term financial health. AC Milan, Inter Milan, and Paris Saint-Germain, who were fined last year, have met their financial targets for the previous season and will continue to be monitored for compliance. UEFA has updated the FFP rules with a new monitoring system that prioritizes financial sustainability for clubs.

via ESPN|

#barcelona #financial-fair-play #fines

sports2 years ago•7 min saved

"June 30: A Crucial Date for Chelsea, Barcelona, and More in the Transfer Market"

June 30 has become a significant date in football, resembling a third transfer window for clubs looking to enhance their accounts for the upcoming season through player sales. Financial fair play regulations have made it crucial for clubs to complete transfers before the end of the month to ensure compliance and avoid consequences. Chelsea, Barcelona, and Roma are among the clubs seeking to raise funds before June 30 to meet financial requirements. The deadline also allows clubs to plan for the future and potentially improve their financial health.

via The Athletic|

#barcelona #chelsea #financial-fair-play

sports2 years ago•3 min saved

Lionel Messi snubs Saudi Arabia for Inter Miami move.

Soccer legend Lionel Messi has chosen to sign with Major League Soccer club Inter Miami, spurning a highly lucrative offer from Saudi Arabia. The Argentine superstar's decision deals a blow to Riyadh's ambitions to attract the sport's biggest players to its top league. Messi said he felt the time had come to join the U.S. league "to experience football in a different way and enjoy the day-to-day."

via CNBC|

#financial-fair-play #inter-miami #lionel-messi

sports2 years ago•5 min saved

The Uncertain Future of Everton in the Premier League.

Everton secured its place in the Premier League for another season with a 1-0 win over Bournemouth on the final day of the season, but the club's future remains uncertain due to potential punishment for failing to comply with Financial Fair Play rules. The Premier League charged Everton with the violation in March, and the club could face a points penalty next season or even have one retrospectively imposed on this campaign. Everton's fans used the opportunity to demand the removal of the club's board, who have been absent since January.

via The New York Times|

#everton #fans #financial-fair-play