Friday, Jan 30, 2015Friday, Jan 30, 2015

Football: Nine Euro clubs face punishment over financial losses


Published on May 3, 2014 2:46 AM

LONDON (REUTERS) - Nine European soccer clubs face punishment under new rules designed to force teams to rein in their financial losses, UEFA said on Friday, without naming any of the offenders.

Media reports this week said big-spending Manchester City and Paris St Germain have been given the chance to settle breaches of the Financial Fair Play (FFP) rules that will leave them free to play in next season's Champions League.

There had been speculation that details of those settlements would emerge as early as this week.

In a statement issued after a two-day meeting of its Club Financial Control Body (CFCB), UEFA said it had given a clean bill of health to 67 of the 76 clubs who had been asked earlier this year to supply additional information about their accounts.

If you are not a subscriber, you can get instant, unlimited access here