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Manchester United Fined By UEFA For Minor Breach Of FFP Rules2 min read

Manchester United Fined By UEFA For Minor Breach Of FFP Rules<span class="wtr-time-wrap after-title"><span class="wtr-time-number">2</span> min read</span>

Manchester United have been fined €300,000 by UEFA for reporting a ‘minor break-even deficit’, it has been confirmed.

The financial penalty imposed against the club is related to historical issues and previous Financial Fair Play [FFP] rules.

UEFA has said that the aim of the settlement agreements is to ‘accompany both clubs through the transitional period between the “old” FFP regulations and the “new” financial sustainability regulatory framework’. It will be implemented in a staged approach as from financial year 2023.

A statement issued in response to the charge by United said: “While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules.

“This reflected a change in the way that UEFA adjusted for Covid-19 losses during the 2022 reporting period, which allowed us to recognise only €15million of the €281m of revenues lost due to the pandemic within the FFP calculation.

“Post pandemic, the clubs’ revenues have recovered strongly and are forecast to reach a record level in the current financial year. The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”

United sustained €47m of Covid-19 losses in the 2022 monitoring period, on top of the €234m of pandemic-related losses during 2019/20 and 2020/21. Those sums were bigger than any other Premier League club experienced.

United, however, were unable to adjust for that loss in their break-even calculation for 2022, due to an unforeseen change in the way that UEFA treated Covid-19 losses during the transition to its revised financial sustainability regulatory framework.

The Premier League did allow for Covid-19 adjustments for 2022, meaning United fully complied with the domestic FFP rules set out.

Furthermore, the club has insisted that the charge will have no impact on their budget for new signings this summer. However, United have warned that they will, along with other clubs, have to remain mindful of FFP constraints and what they can spend moving forward.

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