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Monday, 09 December 2019

UEFA to review financial fair play decision on PSG

Reuters , Tuesday 3 Jul 2018
General view of a Paris St Germain flag
General view of a Paris St Germain flag (Photo: Reuters)
Views: 2436
Views: 2436

UEFA's Club Financial Control Body (CFCB) will review its decision to clear French champions Paris St Germain of breaking Financial Fair Play (FFP) rules after last year's transfer spending spree, European soccer's ruling body said on Tuesday.

PSG, who signed Brazil striker Neymar for 222 million euros($258.7 million), also sealed an initial loan move for France forward Kylian Mbappe from AS Monaco in a deal media reports said would be worth 180 million euros when they buy him.

The club were cleared of breaking FFP rules last month following a UEFA investigation.

"In light of the decision of the CFCB chief investigator to close the investigation into PSG, the chairman of the CFCB has decided to send this decision for review by the adjudicatory chamber," UEFA said in a statement.

"This announcement does not pre-judge in any way the result of the review to be conducted by the adjudicatory chamber of the CFCB," it added.

FFP rules ban clubs from spending more than their generated revenue, a policy introduced to prevent rich owners from trying to buy success and distorting the transfer market.

Teams can be thrown out of European competition for breach of rules but UEFA has in the past negotiated settlements with offending clubs.

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