After being fined $536,000 for financial misreporting, Barcelona appealed to UEFA’s financial committee, and they have received a response.
Just like the past years, the Catalan giants have been experiencing some turmoil off the field. The regulatory body of European soccer informed them of their FFP violation in July of this year. Not only did Barcelona receive a huge fine, but so did Manchester United.
Xavi Hernandez’s side were fined $536,000, while the Premier League outfit were hit with a $322,000 penalty. Barca were the lone Spanish club to receive a fine in the last audit conducted under the previous Club Licensing and Financial Fair Play agreement, which expired at the end of 2018.
The Financial Fair Play rule was implemented back in 2009 with the intention of protecting football clubs for the long haul by mandating that teams spend only what they can afford.
What did UEFA say of Barcelona’s appeal?
Financial results from last year included “profits on disposal of intangible assets (other than player transfers) which are not a relevant income under the regulations,” and as a consequence, Barcelona had to pay a fine. The Catalans were so incensed by their sentence that they immediately attempted to appeal the judgment, threatening to go all the way to the Court of Arbitration for Sport (CAS) “if necessary.”
Nevertheless, the governing body of European soccer said on Friday that their appeal for a sanction had been denied. UEFA’s rejection of an appeal from the La Liga heavy hitters was not enough to sway the First Chamber of the Club Financial Control Body (CFCB).
In a statement, they stated: “The UEFA Club Financial Control Body (CFCB) Appeals Chamber has taken a decision in the case of the appeal by FC Barcelona (ESP) against the decision issued by the CFCB First Chamber on 13 July 2023.
“The CFCB Appeals Chamber has now decided to reject the appeal lodged by FC Barcelona and to confirm the decision of the…
Source link : https://worldsoccertalk.com/news/barcelona-receive-response-on-appeal-about-ffp-rule-violations-20231105-WST-467480.html
Author : Martina Alcheva
Publish date : 2023-11-05 20:25:56
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