Manchester United have begrudgingly accepted a fine from UEFA for breaching the Financial Fair Rules of European football’s governing body during the pandemic...CONTINUE READING THE FULL ARTICLE>>>
Manchester United have expressed their disappointment after being fined €300,000 (£257k) by UEFA for breaching FFP rules.
United bosses have been punished for minor ‘break even’ deficits during the Covid-19 pandemic. The club insist the fine will not affect the transfer budget made available to manager Erik ten Hag.
A club statement said: “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 (£13m) of the €281m (£241m) 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.
“The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”
United sustained €47m (£40m) of Covid losses in 2022, on top of €234m (£200m) of pandemic-related losses between 2019 and 2021.
It was the most suffered by any club in the Premier League. And the minor breaches occurred when United bosses failed to recognise an unforeseen change in the way UEFA treated Covid losses.
United hoped UEFA would be more flexible and accept the club’s oversight, but European football’s governing body have decided to fine them instead.
Meanwhile, the Red Devils have issued a response to a viral video of Mason Mount being hounded to sign shirts outside his hotel. Mount claimed to have been targeted by autograph hunters for three straight days as he was he filmed returning to his temporary residence….READFULL
