PSG to face UEFA FFP investigation following Neymar and Mbappe transfers

by Steven Clarke September 2, 2017, 0:47
PSG to face UEFA FFP investigation following Neymar and Mbappe transfers

"The investigation will focus on the compliance of the club with the break-even requirement, particularly in light of its recent transfer activity", a statement read.

Friday's announcement from European football's governing body said it would look at whether PSG had violated the regulations, which are created to prevent football clubs spending more than they earn.

Besides losing the Ligue 1 title contest to Monaco, PSG also suffered a miserable exit from Champions League as they wasted a four-goal lead in the first half to be eliminated by Barcelona in round of 16.

"UEFA considers Financial Fair Play to be a crucial governance mechanism which aims to ensure the financial sustainability of European club football".

Its board will meet regularly over the coming months to evaluate all documentation relating to the case.

"We recalled that we have always operated in total transparency with the European football body, with whom we developed relations of trust for six years, showing our greatest respect for the institution".

PSG have already smashed the world transfer record this summer, having acquired Neymar from Barcelona for €222m.

"On 31 August, the Club's management again exchanged views with the UEFA Financial Fair Play management in order to clarify in a transparent way how the operation with AS Monaco would be integrated as of this season into the Club accounts, both in terms of depreciation and payroll, in compliance with French accounting standards and IFRS".

The only other significant purchase PSG made this summer was left-back Yuri Berchiche from Real Sociedad for a reported €16m.

While Mbappe and Neymar arrived, Serge Aurier and Blaise Matuidi were among the departures, but eyebrows were raised across Europe at whether PSG were following FFP rules with their unprecedented player expenditure.

However, FFP rules say transfer fees are written off over the life of a contract, which means PSG will have to deal with only one-fifth of Neymar's five-year contract when weighing their expenditures against their revenue this season.

"The club is surprised [due to] the fact that it has constantly kept the UEFA Financial Fair Play teams informed of the impact of all player operations carried out this summer [and] were obliged to do so". Clubs are allowed to spend up to 5 million euros more than they year in one assessment period, which equals three years.

PSG is owned by Oryx Qatar Sports Investments, headquartered in Qatar's capital of Doha.

TOP News

North Korea fires 'unidentified projectiles' into waters, says South Korean military

EU's Verhofstadt talks state of Brexit discussions with European Parliament

First Star Wars: The Last Jedi Hot Toys and Cosbaby Figures

Is Uber's New CEO Already Doomed?

FDA approves the first immunotherapy drug for childhood leukemia

Chelsea looking to boost midfield with Leicester's Danny Drinkwater

William and Harry visit memorial garden

300+ gators could escape as Texas flood waters approach height of fences

Brooklyn pol calls for removal of NYC's Christopher Columbus statues

Australia wobble badly after Bangladesh rally to post 260 in Mirpur