Abu Dhabi’s Man City handed $82m fine, transfer cap

10 years ago | Posted in: Sports | 438 Views

Abu Dhabi-owned Manchester City has been fined £49m ($82.4m), with £32m of it suspended, after failing UEFA financial fair play rules.
The club can also only name a 21-man Champions League squad next season and can only spend £49m on players this summer, as well as any transfer fees they receive while their wage bill for 2014-15 must stay the same as this season.
Manchester City issued a statement in response to the penalties saying that the club is on course to financially break even at the end of the current financial year (May 31).
It said the transfer cap will have “no material impact on the club’s planned transfer activity”.

It added that the club expects to be operating without sanction or restriction at the start of the 2015-16 season.
It said: “From the outset, the club has engaged with UEFA in its introduction of the Financial Fair Play Regulations in good faith and without prejudice and in a transparent and collaborative manner. The club’s position is that it is beholden upon UEFA and the European football establishment to ensure the same.
“The club can confirm that it has been in discussions with UEFA over the last month – in relation to the application of Financial Fair Play regulations… The club believes it has complied with the FFP regulations on this and all other matters…. see more

source: arabianbusiness

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