UEFA has said that they could reopen Financial Fair Play (FFP) cases based on the new information that has come to light thanks to Football Leaks.
European football’s governing body insists FFP has been successful in helping clubs avoid spiraling debts since its inception.
However, UEFA has confirmed it would be prepared to examine cases if there was a clear abuse of the system.
In a statement, it said: “FFP has led to a step change in the health of the finances in European club football. Seven years ago, European clubs had a cumulative debt of €1.7billion. Last year it was a profit of €600million. Without question, it has been a success for the game across Europe.
“FFP is a framework which clubs that wish to play in UEFA competitions agree to abide by. It relies on the cooperation of clubs to declare a complete and genuine financial position. While UEFA can test the information it receives, it relies on that information being fair and accurate reflections of a club’s finances.
“UEFA conducts an annual assessment of all clubs against the break-even requirements of FFP on a rolling three-year basis. This includes a thorough assessment of clubs’ financial positions on the basis of both the information disclosed by the clubs (based on their independently audited financial statements) as well as a number of compliance checks and analysis undertaken by UEFA (including independent external audits). If new information comes to light that may be material to this assessment, UEFA will use that to challenge the figures and will seek explanation, clarification or rebuttal from the club concerned.
“Should new information suggest that previously-concluded cases have been abused, those cases may be capable of being re-opened as dertimned on a case to case basis.
“This approach is applied universally to all clubs that apply for a UEFA licence and participate in European club comptitions.
City and PSG under fire
BREAKING: UEFA warns clubs Financial Fair Play investigations could be re-opened if abuses are discovered after Manchester City’s alleged attempts to evade sanctions were revealed.
City haven’t commented on the contents of the leaks which were first published 11 days ago
— Rob Harris (@RobHarris) November 12, 2018
The likes of Paris Saint-Germain, Manchester City have come under fire for questionable business practices to circumvent FFP. UEFA has made it clear it would not hesitate to review its verdicts ‘on a case-by-case basis’.
City and PSG are accused of having extra money pumped into them by respective ownership groups through over-valued sponsorship deals. Former UEFA general secretary, Gianni Infantino helped the clubs avoid severe sanctions, as per reports.
City insisted the report aimed to damage their reputation, while PSG has denied any wrongdoing.
PSG have also appealed to the Court of Arbitration for Sport (CAS). They want to stop UEFA from re-examining its decision to clear the club of FFP violations in June.
Read more about it here: PSG wants UEFA to Stop Investigation: Appeals to CAS