Apr 30, 2014, 1:18 PM EDT
Leave it to our friends at Soccerly to do the math on the impending trouble for at least Manchester City and Paris Saint-Germain for violating UEFA’s Financial Fair Play policy.
The report says heavy fines and a potential wage cap could be headed the way of violators, the latter a much bigger concern than the former. And it seems the clubs have had some very crafty ways to conceal just how much debt was involved.
UEFA had already said they don’t expect bans from competition.
City accumulated deficits of £97.9 million ($164.6 million) in 2012 and £51.6 million ($85.7 million) last year, but were able to write off some sums spent on facilities, youth development and a number of other items. Both Qatari-owned PSG and Abu Dhabi-owned City have a number of sponsorship deals related to their owners which the CFCB had to determine were of fair market value. PSG effectively wiped out its annual losses of 130 million euros ($180.1 million) by announcing a back-dated sponsorship deal with the Qatar Tourism Authority worth up to 200 million euros ($277.1 million) a year.
- Los Angeles officially given new MLS team; Magic Johnson, Vincent Tan among investors 4
- PST Extra: Getting you ready for The Manchester Derby (video) 0
- European clubs propose later domestic Cup finals, April-May World Cup in 2022 4
- Rumors know no window: Liverpool after Reus, Manchester United wants Draxler 2
- VIDEO: Hugely-controversial call sees FC Dallas past Vancouver in playoffs. Your vote? 12
- Timbers’ Steve Zakuani announces retirement from professional soccer 3