Four clubs referred to CFCB Adjudicatory Chamber

The UEFA Club Financial Control Body (CFCB) Investigatory Chamber, headed by the acting chief investigator Umberto Lago, has announced that four clubs participating in the 2014/15 UEFA Europa League have been referred to the CFCB Adjudicatory Chamber, due to breaches of the monitoring requirements, and in particular important overdue payables towards other clubs, employees and social and tax authorities as of 30 June and 30 September 2014.

The four clubs in question are Bursaspor (TUR), FK Ekranas (LTU), CFR 1907 Cluj (ROU), and FC Astra Giurgiu (ROU). The CFCB's final decisions are expected to be taken by the Adjudicatory Chamber before the end of the year.

As part of the UEFA Club Licensing and Financial Fair Play Regulations, 2012 edition, and, in particular, the assessment of the capacity of clubs to settle their liabilities punctually, the CFCB Investigatory Chamber had requested that 37 clubs submit further information regarding the status of any overdue payables towards other clubs, their employees and social/tax authorities as of 30 September 2014. Five of these clubs (including the four sides mentioned above) had prize money temporarily withheld pending further investigation.

Following further assessment, and based on new information and evidence provided by the clubs, the CFCB Investigatory Chamber decided to end the monitoring involving 32 teams, and lifted the conservatory measure previously imposed on FK Budućnost Podgorica (MNE).

The introduction of the financial fair play requirements has already had a very positive impact on the scale of overdue payables towards clubs, employees and social/tax authorities, as they have constantly decreased, from €57m in June 2011 to €8m in June 2014.