Three clubs exit settlement agreement with CFCB
Monday, January 18, 2016
Article summary
Hull City, Panathinaikos and Sporting CP have exited the settlement regime but Galatasaray have been referred to the CFCB adjudicatory chamber, with a decision due in February.
Article top media content
Article body
The UEFA Club Financial Control Body (CFCB) investigatory chamber, headed by chief investigator Yves Leterme, has provided updates on Hull City (England), Panathinaikos (Greece) and Sporting CP (Portugal), who all concluded settlement agreements last year. The three clubs were found to have fully complied with the terms of their agreements. As a consequence, they have exited the settlement regime.
The investigatory chamber decided to refer the case of Galatasaray (Turkey) to the CFCB adjudicatory chamber for the necessary actions to be taken as the club has failed to comply with the break-even requirement during the monitoring period assessed in the 2015/16 season. The CFCB adjudicatory chamber will take a decision and communicate it by the end of February.
The CFCB investigatory chamber is continuing its monitoring of those clubs who have previously signed settlement agreements, in particular those whose agreements are aimed at ensuring break-even compliance during the 2015/16 season: Hapoel Tel-Aviv (Israel), Ruch Chorzów (Poland), Rostov (Russia) and Kardemir Karabükspor (Turkey). More information on these clubs will be communicated by March.
