UEFA say they will monitor Manchester City's finances closely this year after fining eight clubs for failing to break even with Financial Fair Play regulations.
Paris Saint-Germain, Inter Milan, Juventus, Roma, AC Milan, Marseille, Monaco and Besiktas have all been fined a total of €172 million by the Club Financial Control Body for not complying with the break even requirement for the 2021/22 UEFA club competitions. Of that figure, only €26 million will be paid initially, with the rest conditional depending on each club's compliance with respective settlement agreements.
Regarding City, UEFA say the Blues were 'able to technically fulfil the break-even requirement', but were reminded that from the next financial year, any help they received from Covid-19 emergency measures or historical break-even results would no longer be considered.
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As a result, UEFA have asked City, and 18 other clubs, for additional financial information and will monitor them closely in the next year so that they will be in compliance with the regulations moving forward.
A UEFA statement said: "The CFCB First Chamber also observed that another 19 clubs that took part in the 2021/22 UEFA club competitions, namely Borussia Dortmund, Chelsea FC, FC Barcelona, FC Basel 1893, 1.FC Union Berlin, Fenerbahçe SK, Feyenoord, Leicester City FC, Manchester City FC, Olympique Lyonnais, Rangers, Real Betis Balompié, Royal Antwerp FC, Sevilla FC, SS Lazio, SSC Napoli, Trabzonspor AŞ, VFL Wolfsburg and West Ham United FC, were able to technically fulfil the break-even requirement thanks to the application of the COVID-19 emergency measures and/or because they benefited from historical positive break-even results (T-3 and T-4).
"The CFCB First Chamber reminded these clubs that as from financial year 2023 these exceptional COVID deductions and consideration of historical financial results will no longer be possible. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period. The goal of course is that the clubs’ overall financial situation is in compliance with the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2022 in coming years."
Of the eight clubs fined, PSG will have to pay the most in unconditional fines at €10m, with Roma paying €5m, Inter €4, Juventus €3.5m and AC Milan €2.5m. The remaining balances will be conditional based on settlement agreements over the next three or four years.
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