25.9 C
Accra
Monday, July 8, 2024
WorldParis St-Germain: Uefa cannot reopen closed investigation, says Cas

Date:

Paris St-Germain: Uefa cannot reopen closed investigation, says Cas

spot_img

Paris St-Germain have won a legal challenge that means Uefa cannot re-open an investigation into the French champions’ finances up to June 2017.

The Court of Arbitration for Sport (Cas) upheld PSG’s appeal against Uefa.

- Advertisement -

Uefa had initially ruled the accounts complied with financial fair play (FFP) before launching a review. Cas ruled European football’s governing body had missed a deadline for its review.

However, PSG remain under investigation for their 2017-18 finances.

- Advertisement -

Read:PSG reject Barcelona, Real Madrid bids for Neymar

During this season they signed Neymar from Barcelona for a world record £222m euros (£200m) and Kylian Mbappe from Monaco, initially on loan, for 180m euros (£165.7m).

- Advertisement -

Uefa released a statement after the Cas ruling saying it would “analyse” the decision and “consider implementing as soon as possible any clarifications or amendments to its rules that may result from the analysis of the abovementioned award”.

“The Cas decision does not put in doubt the objectives of the Uefa Club Licensing & Financial Fair Play system,” it added.

Ligue 1 club PSG were initially cleared of breaking FFP rules in June 2018, but Uefa reopened the case in September.

Read:Man Utd penalty against PSG was right Uefa

Cas said Uefa’s application to reopen fell outside the 10-day deadline from the initial decision.

FFP ‘break-even’ rules require clubs to balance spending with their revenue.

PSG were in 2014 fined after being found guilty of breaking them.

A sponsorship deal with the Qatar Tourism Authority was deemed to have an unfair value by Uefa’s independent investigation panel.

The French club, purchased by Qatar Sports Investments in 2011, were also forced to play with a restricted 21-man squad in European competition for a season.

Source: bbc.com

Latest stories

If you claim I am corrupt prosecute me then – Mahama to NPP

The National Democratic Congress' (NDC) flagbearer, John Dramani Mahama,...

Key deceptions revealed in Chef Smith’s interview with Serwaa Amihere

Chef Smith's deception extended far beyond fabricating his Guinness...

Asamoah Gyan advices Ghanaians not to be too expectant of the Black Stars

Former Ghana Captain Asamoah Gyan has urged Ghanaians to...

Check out Stonebwoy’s electrifying performance at Summerjam Festival in Germany

Renowned star of reggae, Stonebwoy, dancehall, and afrobeats,...

BECE format may undergo changes – WAEC

Head of the Public Affairs Unit at the West...

Akufo-Addo’s corrupt officials will be prosecuted – Mahama

Former President John Mahama has accused the governing New...

Related stories

John Cena to retire from wrestling in 2025

Renowned actor and wrestler John Cena has officially announced...

At least 16 dead after Israeli air strike on Gaza school

In a devastating incident at the Nuseirat refugee camp...

Titanic and Avatar producer dies at age 63

Jon Landau, the acclaimed producer behind some of the...

Italian archbishop and staunch critic of Pope Francis excommunicated

The Vatican has excommunicated Archbishop Carlo Maria Vigano, an...

Only the ‘Lord Almighty’ could convince me to quit – Biden

In a rare primetime interview with ABC News, President...

Pezeshkian elected as Iran’s president

Masoud Pezeshkian, a reformist, has been elected as the...

Hungary’s PM meets Putin in Moscow to discuss matters concerning Ukraine

Hungary's Prime Minister Viktor Orban visited Moscow for discussions...