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European football governing body, Uefa has fined Manchester United 300,000 euros for violating Financial Fair Play (FFP) regulations.
Manchester United were among the clubs that Uefa sanctioned by the FFP regulations that were in effect from 2019 to 2022.
United stated that they were “disappointed with the result” but the Premier League giants are not planning to appeal the sanction.
The Red Devils have admitted that the club have agreed to pay the fine “for what Uefa acknowledges to be a minor technical violation of its prior Financial Fair Play rules.”
A statement from the Premier League club claimed that the sanction “reflected a change in the way that Uefa adjusted for Covid-19 losses during the 2022 reporting period, which allowed us to recognize only 15m euros of the 281m euros of revenues lost due to the pandemic within the FFP calculation”.
Aside from Manchester United, UEFA have also imposed a fine of 500,000 euros on Spanish La Liga giants FC Barcelona for also breaching the FFP rules.
In 2022, Uefa found the Spanish club guilty of violating laws by “wrongly reporting… profits on disposal of intangible assets (other than player transfers) that are not a relevant income under the regulations.”
Even though AC Milan, Besiktas, Inter Milan, Marseille, Monaco, Paris St. Germain, and Roma were found to have complied with FFP rules in 2022, Uefa indicated that it “will continue monitoring their compliance with the settlement agreement during next season.”
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