Premier League: Wolves reach settlement with UEFA after breaching Financial Fair Play regulations

Paris: Europa League quarter-finalists Wolves have reached a settlement agreement with UEFA after the club failed to comply with financial break-even requirements, European football’s governing body announced Friday. Wolves were one of three clubs sanctioned by UEFA for breaching financial fair play regulations and were fined up to 600,000 euros ($706,000) — two-thirds of which is conditional on their compliance with the break-even target in the settlement. The Premier League side, who are through to a first European quarter-final since 1972, must report a break-even deficit of 30 million euros for this financial year before reaching an aggregate break-even result in 2021/22 within accepted limits for the previous three-year period. Wolves could qualify for next season’s Champions League by winning the Europa League but would be restricted to a 23-man squad instead of the standard 25 for European competitions. The limit will also apply for the 2021/22 campaign unless the club fulfils all financial measures. French side Lille and Turkish champions Istanbul Basaksehir struck similar deals after falling foul of UEFA’s Club Financial Control Body. Portuguese champions Porto will again be subjected to a reduced squad size and restricted transfer activity after only partially meeting targets for the 2019/20 campaign.