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

Wolves were one of three clubs sanctioned by UEFA for breaching financial fair play regulations and were fined up to $706,000

Agence France-Presse August 07, 2020 23:50:00 IST
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.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

League Cup: Jacob Brown's late goal helps Stoke City beat Wolves; Burnley overcome Sheffield United on penalties
Sports

League Cup: Jacob Brown's late goal helps Stoke City beat Wolves; Burnley overcome Sheffield United on penalties

Brighton were comprehensive 4-0 winners over Portsmouth with Alexis Mac Allister, Alireza Jahanbakhsh, Bernardo and Victor Gyokeres on target.

UEFA Nations League: Cristiano Ronaldo says playing in front of empty stadiums is like 'going to a circus without clowns'
Sports

UEFA Nations League: Cristiano Ronaldo says playing in front of empty stadiums is like 'going to a circus without clowns'

Ronaldo said he hoped that “within a few months” fans could be back because they are the “joy” of the game.

UEFA Nations League: Gareth Southgate admits England 'got away with it' after 1-0 win over Iceland
Sports

UEFA Nations League: Gareth Southgate admits England 'got away with it' after 1-0 win over Iceland

Southgate pinpointed a lack of match sharpness with the new Premier League season still a week away for an underwhelming performance, but insisted Kyle Walker and Joe Gomez must learn from mistakes that nearly cost their country.