Latest news with #FinancialSustainabilityRegulations
RTÉ News
2 days ago
- Business
- RTÉ News
UEFA hits Chelsea and Aston Villa with big fines over spending
Chelsea have been fined almost €31m and Aston Villa €11m for breaching UEFA's financial sustainability regulations, European football's governing body has announced. The Blues have been hit with a €20m penalty for failing to comply with UEFA's football earnings rule, with a further €60m payable if they do not achieve compliance inside the next four years, and have agreed to "a restriction on the registration of new players on their list A for UEFA club competitions". They have also been fined €11m for reporting a squad cost ratio – largely the proportion of their income paid out in wages – in excess of 80%. A Chelsea spokesperson said: "Chelsea FC has entered into a settlement agreement with UEFA concerning a break-even deficit reported by the club under UEFA's Financial Sustainability Regulations covering the financial years 2022-2023 and 2023-2024. "The club has also agreed to pay a fine as a result of the club's squad cost ratio in the 2024 reporting year being between 80% and 90%. "The club has worked closely and transparently with UEFA to provide a full and detailed breakdown of its financial reporting, which indicates that the financial performance of the club is on a strong upwards trajectory. "Chelsea FC greatly values its relationship with UEFA and considered it important to bring this matter to a swift conclusion by entering into a settlement agreement." Villa have been ordered to pay €5m, with a further €15m conditional on compliance in a three-year period, and €6m for the same two offences, with the penalties reflecting the severity of the breaches. The midlands club has also agreed a similar restriction on player registrations. Both clubs have entered into settlement agreements with UEFA and, should they breach them, have agreed to one-year bans from the next UEFA club competition they qualify for in the following three seasons. Aston Villa have been contacted for comment. The punishments have been handed down by the first chamber of UEFA's club financial control body (CFCB) following an analysis of the 2023 and 2024 financial years. Referring to the implementation of the football earnings rule, the CFCB said in a statement: "In assessing the clubs' compliance with the football earnings rule, the CFCB placed particular attention on transactions involving the sale of tangible or intangible assets, the exchange of players (so called 'swaps') and the transfers of players between related parties. "Clubs were required to perform adjustments, as profits from such transactions cannot be recognised as relevant income according to the UEFA club licensing and financial sustainability regulations – edition 2024." Both Chelsea and Villa have hit the headlines in recent months for selling their women's teams to their respective parent companies in an effort to negotiate spending restrictions.
Scottish Sun
10-05-2025
- Business
- Scottish Sun
Rangers chiefs warn fans that major Uefa rule change is likely to impact Cavenagh/49ers takeover spending
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) RANGERS chiefs have told fans that incoming US investors Andrew Cavenagh and Paraag Marathe will NOT be able to circumvent Uefa spending rules by splashing the cash on areas of the club such as stadium development, academies and women's football. Such areas have traditionally been exempt from the European governing body's Financial Sustainability Regulations (FSR). Sign up for the Rangers newsletter Sign up 2 Rangers CEO Patrick Stewart (left) and chairman Fraser Thornton in the stands Credit: PA 2 Andrew Cavenagh and 49ers technical director Gretar Steinsson Credit: Willie Vass The US consortium is inching towards 51% control of the Ibrox club, even if ex-chairman Dave King has warned that the transactions may not be completed until June. The clock will already be ticking at that point towards the Champions League qualifiers, with the Ibrox side already knowing they will face three arduous rounds in a bit to unlock £40m Uefa riches - starting in mid July. Gers fans are desperate for some fresh investment in a playing squad which badly needs it but a Gers delegation - led by CEO Patrick Stewart - has warned how a change to Uefa's FSR rules makes their life harder when it comes to an instant input of cash. The minutes for the recent Fan Advisory Board meeting read: "It was noted that Uefa's updated Financial Sustainability Regulations (FSR) now apply to all forms of club expenditure, including traditionally exempt areas such as stadium development, academies and women's football. "This means the club must live within its means, and can no longer rely on unrestricted spending in areas previously classed as 'good investment'." Uefa FSR rules prevent clubs from making a loss year on year outwith acceptable limits and limit spending on player and coach wages, transfers and agent fees to 70% of club revenue. Breaches result in predefined financial penalties as well as sporting measures. There's still major uncertainty at Ibrox until the takeover finally comes into being, despite a recent joint statement from the club's board and the incoming US investors. But the club have appointed Kevin Thelwell as sporting director and Stewart insists that transfer plans for next season are already well advanced. One signing is already confirmed, with Lyall Cameron set to arrive at the club from Dundee. Scottish football cult hero who was Ally McCoist rival sends concert clip to Rangers icon Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
