“[The CFCB Adjudicatory Chamber] … announced today its decision to refer the matter to the CFCB Board of Inquiry for further review. Meanwhile, the transaction agreement concluded on 13 June 2018 remains in force until further notice,” UEFA said on Friday. Any decision by the CFCB`s Chief Comptroller to dismiss a case, enter into or amend a transaction agreement, or apply disciplinary action within the meaning of section 14, paragraph 1, point c) may be reviewed by the board at the initiative of the CFCB Chair within 10 days of the decision being forwarded to the CFCB Chair. UEFA FFP UEFA Regulations also stated that Turkish champion Medipol Basaksehir “did not meet the break-up requirement,” so the club signed a new comparison contract for the 2020-21, 2021-22, 2022-23 and 2023-24 seasons. In June 2018, UEFA and Galatasaray reached an agreement following an investigation into the Turkish association`s breach of financial fair play rules. The offences were revealed during the review of the 2017/18 observation period. The association must pay an additional fine of 9 million euros if it does not comply with the requirements of the contract. Galatasaray chief Mustafa Cengiz will meet UEFA president Aleksander Ceferin on Thursday to discuss the financial situation with the Turkish football club. On 13 June, UEFA and Galatasaray signed a four-year contract for the 2018/19, 2019/20, 2020/21 and 2021/22 seasons because the club did not meet the break-up requirement. Under the new agreement, Basaksehir may have “maximum break-even deficits of 10 million euros” in 2020, but has promised to balance his account by the 2023-24 season.
As part of a new agreement between UEFA and Galatasaray, the association must achieve full compliance by the 2021-2022 observation period, the club`s financial watchdog said in a statement published on UEFA`s website. UEFA said it had also concluded that Turkish association Besiktas had fully met its objectives in a previous transaction contract for the 2017/18 season. “Istanbul Basaksehir is committed to making a financial contribution totalling 1.5 million euros, withholding from the revenue it receives from participating in UEFA competitions. Of this amount, 0.3 million euros will be paid in full, while the balance of 1.2 million euros will depend on whether the association meets the “break-even” objectives set out in the transaction agreement,” he said. Fenerbahce and Trabzonspor have partially fulfilled their objectives under the respective agreements and transfer and number restrictions on players will continue to apply during the 2018/19 season. Under the agreement, Galatasaray would limit the number of players, pay a fine to UEFA and reduce expenses in order to obtain full compliance with the regulations. European clubs should meet the criteria for financial fair play, which include breaking targets, sports measures and financial contributions. The ruling was published in a press release published on CAS`s website. On Friday, Galatasaray`s case was referred to the Investigating Chamber of the Club Financial Control Body (CFCB). The transaction agreed by Galatasaray included the following: PSG immediately appealed the CAS decision and we are awaiting the verdict. Stay on the line.
The decision of UEFA CFCB Adjudicatory Chamber of 5 October 2018 is overturned. The decision of the chief investigator of the UEFA CFCB`s investigative chamber of 5 June 2018 and the resulting transaction agreement are confirmed.