The CFCB Investigatory Chamber today announced that ten clubs, for which investigations were opened following non-compliance with FFP break-even regulations, have individually agreed to settlement agreements.
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021 - Club Financial Control Body Investigatory Chamber terms accepted by clubs under investigation in relation to the break-even requirement
The Club Financial Control Body (CFCB) Investigatory Chamber today announced that ten clubs, for which investigations were opened following non-compliance with Financial Fair Play (FFP) break-even regulations, have individually agreed to settlement agreements.
The clubs are AS Monaco FC, AS Roma, Beşiktaş JK, FC Internazionale Milano, FC Krasnodar, FC Lokomotiv Moskva and Sporting Clube de Portugal and, for minor breaches, FC Rostov, Kardemir Karabükspor and PFC CSKA Sofia.
The CFCB Investigatory Chamber also announced that VfL Wolsburg have been found (following the submission of additional financial information) to have satisfied the break-even requirement and are no longer under investigation.
These settlement agreements aim to ensure that each club achieves break-even compliance with minimal delay, and are defined by Articles 14 (1) (b) and 15 of the Procedural Rules governing the CFCB (uefa.to/1ekZ94F).
Each of the settlement agreements includes some or all of the following provisions:
Break-even targets: Defined as (i) annual and aggregate break-even results as per individual summary settlements, and/or (ii) financial covenants on the level of employee benefit expenses (total wages and benefits) and player’s amortization incurred in the relevant reporting period(s);
Sporting measures: Defined as limitations on (i) the number of players included on the 'A' list related to UEFA competitions, and/or (ii) the registration of newly-transferred players on the 'A' and 'B' squad lists related to UEFA competitions; and/or (iii) employee benefit expenses (total wages and benefits) incurred in the relevant reporting period(s); and
Financial contributions: Defined as (i) money withheld from revenues earned from participation in UEFA competitions; or (ii) an amount to be paid in full by a certain deadline. Such contributions shall not impact future break-even calculations.
In the event of a club not qualifying for UEFA competition next season, it will nonetheless be subject to the terms of the settlement agreements.
The individual settlement agreements will published on UEFA.org next week and a club-by-club summary for information purposes has been published at http://uefa.to/1cHQkVW.
Four previous settlement agreements were announced on 27 February 2015, so today's announcement brings the total number of settlement agreements for 2014/2015 to 14 (uefa.to/1dStLOp).