AC Milan have been handed a fine by UEFA over previous breaches in their Financial Fair Play regulations, it has been confirmed.
As MilanNews report, the Rossoneri have been given a €2m fine plus a €13m suspended fine by the First Chamber of the Club Financial Control Body (CFCB), who today announced 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 meet the break-even requirement.
The analysis covered the financial years 2018, 2019, 2020, 2021 and 2022 while the financial years 2020 and 2021 were subject to the Covid emergency measures aimed at neutralising the negative impact of the pandemic.
Under these measures, fiscal years 2020 and 2021 were assessed as one period and clubs were allowed to make specific Covid-19 adjustments and average the 2020 and 2021 combined deficits.
These eight clubs have agreed to make financial contributions of €172m. These amounts will be deducted from all revenues that clubs obtain from participation in UEFA club competitions or paid directly. Of this amount, €26m (15%) will be paid in full, while the remaining balance of €146m (85%) is conditional on these clubs meeting the objectives set out in their respective settlement agreements.
Therefore, Milan will only be €2m out of pocket as things stand but could be fined a further €13m if they breach FFP regulations in the future.