CFCB Adjudicatory Chamber renders Panathinaikos FC decision

The CFCB Adjudicatory Chamber has taken its decision in the case of Panathinaikos FC regarding the presence of overdue payables.

©UEFA

The Adjudicatory Chamber of the Club Financial Control Body (CFCB), chaired by José Narciso da Cunha Rodrigues, has taken a decision in the case of Panathinaikos FC (GRE) that had been referred to it by the CFCB Chief Investigator, due to the presence of overdue payables.

The club is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next three (3) seasons (i.e. 2018/19, 2019/20 and 2020/21 seasons), unless the club is able to prove by 1 March 2018 that it has paid the amounts or concluded an agreement with the creditors with regard to the amounts that were identified as overdue payables as at 30 September 2017.

The club is also fined €200,000, from which €100,000 is suspended and will only fall due in case the club is not able to prove by 1 March 2018 that it has paid the amounts or concluded an agreement with the creditors with regard to the amounts that were identified as overdue payables as at 30 September 2017.

This decision may be appealed to the Court of Arbitration for Sport, in accordance with Article 34(2) of the Procedural rules governing the UEFA Club Financial Control Body, as well as Articles 62 and 63 of the UEFA Statutes.

The full reasoned decision will be published on UEFA.com in due course.

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