UEFA have confirmed that French outfit Paris Saint-Germain will be investigated over financial fair play after the outrageous spending during this summer’s transfer window.
The Ligue 1 outfit spent a world record sum of £200m on the Brazilian winger Neymar. The Qatari owned club then went on to splash £165.7m on the Monaco forward Kylian Mbappe.
UEFA introduced the financial fair play regulations back in 2013 which require clubs to balance their spending with their revenue.
As per the Deloitte records, PSG had a revenue of £389.6m during the 2015-16 financial year. According to the FFP regulations, clubs are allowed to spend 30 million Euros more than they earn over a three-year period.
Earlier this summer, there reports of Barcelona and Real Madrid complaining to UEFA about PSG’s conduct in the transfer market.
It will be interesting to see how things pan out for the French outfit now. In the meantime, they will be competing in this year’s Champions League.
The UEFA statement read: “The Investigatory Chamber of the UEFA Club Financial Control Body has opened a formal investigation into Paris Saint-Germain as part of its ongoing monitoring of clubs under Financial Fair Play (FFP) regulations'” UEFA stated on Friday in a press release. The investigation will focus on the compliance of the club with the break-even requirement, particularly in light of its recent transfer activity. In the coming months, the Investigatory Chamber of the UEFA Club Financial Control Body will regularly meet in order to carefully evaluate all documentation pertaining to this case. UEFA considers Financial Fair Play to be a crucial governance mechanism which aims to ensure the financial sustainability of European club football. UEFA will make no further comments on this matter while the investigation is ongoing.”