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The Club Financial Control Body (CFCB) First Chamber, chaired by Sunil Gulati, announced today a series of decisions involving clubs that participated in the 2021/22 UEFA club competitions.
The CFCB First Chamber found that AC Milan (ITA), AS Monaco (FRA), AS Roma (ITA), Beşiktaş JK (TUR), FC Internazionale Milano (ITA), Juventus (ITA), Olympique de Marseille (FRA) and Paris Saint-Germain (FRA) did not comply with the break-even requirement.
The analysis covered the financial years 2018, 2019, 2020, 2021 and 2022. Financial years 2020 and 2021 were subject to the Covid emergency measures aimed at neutralising the adverse impact of the pandemic. Under these measures, financial years 2020 and 2021 were assessed as one single period and clubs were allowed specific covid-19 adjustments, and to average the combined deficit of 2020 and 2021. Further information on the emergency measures can be found here.
These eight clubs agreed to financial contributions of €172 million. These amounts will be withheld from any revenues these clubs earn from participating in UEFA club competitions or paid directly. Of this amount, €26 million (15%) shall be paid in full while the remaining balance of €146 million (85%) is conditional depending on these clubs’ compliance with the targets stated in the respective settlement agreement.
The details are as follows:
| Club | Total amount | Unconditional amount |
| AS Monaco (FRA) | €2 million | €0.3 million |
| Olympique de Marseille (FRA) | €2 million | €0.3 million |
| Beşiktaş JK (TUR) | €4 million | €0.6 million |
| AC Milan (ITA) | €15 million | €2.0 million |
| Juventus (ITA) | €23 million | €3.5 million |
| FC Internazionale Milano (ITA) | €26 million | €4.0 million |
| AS Roma (ITA) | €35 million | €5.0 million |
| Paris Saint-Germain (FRA) | €65 million | €10.0 million |
The settlement agreement framework is identical for all clubs. Settlement agreements cover either a 3-year or a 4-year period. Their aim is to accompany clubs through the transitional period between the “old” Club licensing and Financial Fair Play Regulations – Edition 2018 and the newly approved Club Licensing and Financial Sustainability Regulations – Edition 2022 (CL&FS) that will be implemented in a staged approach as from financial year 2023. The clubs’ objective is therefore to fully comply with the stability requirements (i.e. the football earnings rule), as defined in the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2022 at the end of the Settlement agreement.
Under the 3-year settlement agreement, clubs agree to comply with the football earning rule during the 2025/26 season. They undertake to reach intermediate annual targets, and to the application of conditional financial and sporting measures should these targets not be met.
The 4-year settlement agreement differs in that it provides one additional season to comply with the football earnings rule but includes unconditional sporting restrictions on the registration of new players applicable as from 2022/23 season. AS Roma and FC Internazionale Milano opted for a 4-year settlement agreement while all other clubs opted for a 3-year period. Further details on the settlement agreements can be found here and here.
Moreover, the CFCB First Chamber found that CS Santa Clara (POR) and RSC Anderlecht (BEL) reported minor breaches to the break-even requirements. CS Santa Clara was imposed a fine of €10,000. RSC Anderlecht was imposed a fine of €100,000, unless the club’s aggregate break-even result for the financial years 2019, 2020, 2021 and 2022 is in compliance with the break-even requirement.
Furthermore, during the 2021/22 season, the CFCB First Chamber continued the monitoring of the clubs that were already under settlement regimes, namely AEK Athens FC (GRE), LOSC Lille (FRA), İstanbul Başakşehir (TUR) and FC Porto (POR). Details on those settlement agreements can be found here.
The CFCB First Chamber found that FC Porto (POR), after reopening the case, slightly failed to fulfil the primary purpose of its Settlement Agreement and, as a result, the CFCB First Chamber decided to impose a fine of €100,000 and to exclude the club from the next UEFA club competition for which it would qualify in the next three seasons, unless the club’s aggregate break-even result for the financial years 2019, 2020, 2021 and 2022 is in compliance with the break-even requirement.
Furthermore, it found that LOSC Lille (FRA) and İstanbul Başakşehir (TUR) only partially fulfilled the targets set for the 2021/22 season and, as a result, the conditional sporting measures foreseen in the settlement agreement, namely the limitation on the number of players a club can register in the List A and the restrictions of newly transferred players, will apply in the 2022/23 season.
As to AEK Athens FC (GRE), the CFCB First Chamber confirms that the club has fulfilled the conditions imposed by the CFCB within the set deadlines. Accordingly, the club can exit the settlement regime.
Finally, the CFCB First Chamber also observed that another 19 clubs that took part in the 2021/22 UEFA club competitions, namely Borussia Dortmund (GER), Chelsea FC (ENG), FC Barcelona (ESP), FC Basel 1893 (SUI), 1.FC Union Berlin (GER), Fenerbahçe SK (TUR), Feyenoord (NED), Leicester City FC (ENG), Manchester City FC (ENG), Olympique Lyonnais (FRA), Rangers (SCO), Real Betis Balompié (ESP), Royal Antwerp FC (BEL), Sevilla FC (ESP), SS Lazio (ITA), SSC Napoli (ITA), Trabzonspor AŞ (TUR), VFL Wolfsburg (GER) and West Ham United FC (ENG), were able to technically fulfil the break-even requirement thanks to the application of the COVID-19 emergency measures and/or because they benefited from historical positive break-even results (T-3 and T-4).
The CFCB First Chamber reminded these clubs that as from financial year 2023 these exceptional COVID deductions and consideration of historical financial results will no longer be possible. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period. The goal of course is that the clubs’ overall financial situation is in compliance with the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2022 in coming years.
