FC Barcelona will have to pay a fine of €500,000 imposed by UEFA due to the violation of Financial Fair play, according to the Court of Arbitration for Sport (CAS) resolution, as reported by 2playbook (h/t Mundo Deportivo).
UEFA had hit the Blaugrana with the sanction last year, in relation to wrongful declaration of profits during the 2022 financial year.
The Blaugrana had filed an appeal to the CAS against the sanction, but the court has upheld the sanction from European football’s governing body.
Indeed, the CAS backed the decision by UEFA, confirming that the club presided over by Joan Laporta attempted to account for extraordinary gains from the sale of assets as operating income, which was crucial to avoid infringing UEFA’s economic rules.
The court considers it proven that the income obtained from the sale of 25% of television rights was disguised as ordinary income rather than extraordinary.
“The Panel considers that FC Barcelona’s infringement was deliberate,” the ruling states.
Furthermore, it notes that Barcelona had the opportunity to admit the error and correct it, which would have reduced the sanction to €80,000.
However, CAS affirms that Barça insisted on classifying the sale of 15% of La Liga television rights to Sixth Street for €267 million as operating income, reinforcing the conclusion that the club’s actions were intentional.
Source link : https://barcauniversal.com/barcelonas-appeal-against-e500000-uefa-fine-dismissed-by-cas/
Author : Michel Durant
Publish date : 2024-10-18 09:43:44
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