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Wednesday, September 30, 2020

Wolves found in breach of financial fair play rules by Uefa

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Stephen Owura Kissi
Journalism has been my prior job during childhood. With all things been so good for me, I am able to achieve my aim and fulfill the promise I made to my family. I am now a renowned sports journalist working with Ghana News Page.

Wolves have been punished for breaching UEFA’s financial break-even requirements for the 2019/20 season.

The club has agreed to a settlement agreement with UEFA over the next two seasons.

Wolves will agree to a maximum deficit of €30m (£27.79m) for the financial year ending 2020, and to finally reach an acceptable break-even result by 2021.

This will also be the case in 2021/22 unless the club fulfills all of the financial measures set out by UEFA’s financial investigatory chamber.

A statement from European football’s governing body read: “The settlement agreement covers the sporting seasons 2020/21 and 2021/22.

“Wolverhampton Wanderers FC undertakes to report a maximum break-even deficit of €30 million in the financial year ending in 2020 and to finally reach, in the 2021/22 season, an aggregate break-even result for the financial years ending in 2019, 2020 and 2021 within the acceptable deviation.

“Wolverhampton Wanderers FC agrees to pay a total financial contribution up to €0.6 million, which will be withheld from any revenues it earns from participating in UEFA competitions.

“Of this amount, €0.2 million shall be paid in full while the remaining balance of €0.4 million is conditional depending on the club’s compliance with the break-even target stated in the settlement agreement.

“Wolverhampton Wanderers FC accepts that, for the season 2020/21, it may only include a maximum of 23 players in its List A for the participation in UEFA competitions, instead of the maximum of 25 players as foreseen in the relevant competition regulations.

“Such restriction will continue to apply for the season 2021/22 unless the club fulfills all financial measures agreed with the CFCB Investigatory Chamber.”

Ligue 1 side Lille and Istanbul Basaksehir have also been found guilty of similar breaches by UEFA.

Wolves’ chances of playing European football next season remain uncertain.

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