Manchester City accept world-record £50m fine for breach of Uefa Financial Fair Play rules
Manchester City have accepted a world-record £50 million fine from Uefa after their £1 billion spending spree under Sheikh Mansour was shown to breach its Financial Fair Play regulations.
Champions: Manchester City have accepted a £50m Uefa fine for a breach of FFP regulations Photo: GETTY IMAGES
Manchester City on Friday night accepted a world-record £50 million fine from
Uefa and an identical £49 million cap on their spending this summer after
finally ending their fight to avoid a Financial Fair Play penalty.
The new Premier League champions reluctantly signed up to what could prove the
biggest monetary sanction ever imposed on a sports team, following their
unprecedented £1 billion spending spree under Sheikh Mansour bin Zayed al
Nahyan .
Announced more than a month after The Daily Telegraph first revealed they were
set to be found in breach of FFP regulations, their ‘settlement’ agreement
with European football’s Club Financial Control Body also included a cut in
their Champions League squad to 21 players and a ban on increasing their
wages for at least a year.
The deal ended a tense stand-off between City and the CFCB’s investigatory
chamber over their sanction for failing to comply with rules aimed at
combating “greed, reckless spending and financial insanity”.
The club threatened to fight to the bitter end to avoid their penalty by
taking their case to the CFCB’s adjudicatory chamber and beyondSource The Telegragh
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