Manchester United have been handed a £256,744 ( €300,000) fine by UEFA for breaching Financial Fair Play restrictions.
The UEFA’s Club Financial Control Body found United didn’t meet its target to approach breakeven on football-related business, including player transfers, wages and social taxes during the financial years 2019 to 2022.
“During the 2022/23 season the CFCB First Chamber, chaired by Sunil Gulati, concluded the assessment of the break-even requirement covering the financial years 2019, 2020, 2021 and 2022,” A statement issued out by UEFA read.
“This is the last time the CFCB assessed the clubs on the basis of the “old” Club Licensing and Financial Fair Play (FFP) regulations, Edition 2018. Manchester United FC (ENG), Konyaspor (TUR) and APOEL FC (CYP) reported minor break-even deficits. These clubs were fined respectively with €300,000, €100,000 and €100,000.”
United also responded with a statement confirming their disappointment for the outcome.
“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 €15m (£12.8m) of the €281m (£240.5m) 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.”
This fine will have no impact on United’s transfer budget over this summer, though Erik Ten Hag is having to navigate with a fairly strict funds already given the uncertainty of the takeover situation.
