Uefa, European football’s governing body, has cleared English Premier League club Manchester City and French Ligue 1 outfit Paris Saint-Germain of further punishment over the breach of Financial Fair Play (FFP) regulations in 2014.
In a statement, Uefa said both City and PSG have complied with sanctions placed upon them and will now be able to operate under standard regulations. City and PSG were amongst the first teams to be sanctioned under FFP, which was introduced by Uefa in an effort to stop teams from overspending.
In May 2014, the clubs agreed settlements with Uefa involving a potential €60m ($65.2m) in fines, the maximum financial punishment Uefa can hand out. However, after various sanctions were lifted in July 2015 in response to both teams meeting FFP rules, the Uefa Club Financial Control Body (CFCB) Investigatory Chamber has now withdrawn all remaining measures.
As a result of the settlement, the Associated Press news agency has reported that City and PSG each only forfeited €20m in prize money from the Uefa Champions League, instead of the potential €60m penalty.
The two clubs had to endure financial sanctions such as a cap on the amount they could spend on transfers and wages through 2016.
Meanwhile, Uefa’s CFCB Investigatory Chamber has also cleared Croatian First Football League team Dinamo Zagreb from further risk of sanctions. The team’s settlement was concluded last year.
In addition, the Uefa body said Ligue 1 club AS Monaco, Italian Serie A team AS Roma and Turkish Süper Lig outfit Fenerbahçe have complied with rules in the 2016-17 season and will now only face ongoing monitoring.
However, Inter Milan of Serie A and Süper Lig pair Besiktas and Trabzonspor all missed targets for the current season and will have their sanctions extended.