CFCB Adjudicatory Chamber renders Panathinaikos FC decision
Tuesday, 24 April 2018
On 12 December 2017, the Adjudicatory Chamber of the Club Financial Control Body (CFCB), chaired by José Narciso da Cunha Rodrigues, took a decision in the case of the club Panathinaikos FC (GRE) regarding overdue payables.
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The Adjudicatory Chamber confirmed that Panathinaikos FC had breached the overdue payables requirement of the UEFA Club Licensing and Financial Fair Play Regulations and decided to exclude Panathinaikos FC 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 by 1 March 2018 the club was able to prove having 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 Adjudicatory Chamber also imposed a fine of €200,000, from which €100,000 was suspended and would only fall due, in case the club was not able to fulfil the aforementioned condition.
On 19 March 2018, the CFCB Investigatory Chamber conducted an examination and concluded that Panathinaikos FC did not satisfy the established condition.
As a consequence, the Adjudicatory Chamber ordered that the exclusion provided in the decision of 12 December 2017 shall take effect immediately and confirmed that Panathinaikos FC is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next three (3) seasons (i.e. the 2018/19, 2019/20 and 2020/21 seasons). The Adjudicatory Chamber also ordered that the amount of €100,000 as part of the total fine of €200,000 is no longer suspended and is due immediately.
The full order will be published on UEFA.com.