Four clubs conclude FFP settlement agreements

The UEFA Club Financial Control Body (CFCB) investigatory chamber, headed by chief investigator Yves Leterme, announced today that four clubs – FC Astana (KAZ), GNK Dinamo Zagreb (CRO), Fenerbahçe SK (TUR), Trabzonspor AŞ (TUR) – for which investigations were opened following non-compliance with the UEFA Financial Fair Play (FFP) break-even requirement, have individually agreed to settlement agreements.

Furthermore, the UEFA CFCB investigatory chamber has provided updates on Hapoel Tel-Aviv FC (ISR), FC Rostov (RUS) and Ruch Chorzów (POL), who all concluded settlement agreements last year. The three clubs were found to have complied with the terms of their agreements. As a consequence, they have exited the settlement regime.

The UEFA CFCB investigatory chamber decided to refer the case of Kardemir Karabükspor (TUR) to the CFCB adjudicatory chamber for the necessary actions to be taken as the club has failed to fulfil its settlement agreement and did not become break-even compliant 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 June.

Below are the details of the four new settlement agreements:

FC Astana (KAZ)

• The settlement agreement covers the sporting seasons 2016/17, 2017/18 and 2018/19.
• Astana undertakes to reach full break-even compliance by monitoring period 2018/19 (i.e. reporting periods 2016, 2017 and 2018).
• Astana agrees to report a maximum annual break-even deficit of €20m for the financial year ending in 2016 and €10m for the financial year ending in 2017.
• Astana agrees that for the financial year ending in 2016 and for the financial year ending in 2017 the amortisation and impairment of the costs of acquiring players' registrations is limited.
• Astana accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2016/17, Astana may only register a maximum of 22 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations.
• Astana accepts, for the duration of the settlement agreement, a calculated limitation on the number of new registrations it may include within its A list for the purposes of participation in UEFA competitions. This calculation is based on the club's net transfer position in each respective registration period covered by the agreement. Such restriction will be lifted as from season 2017/18 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
• Astana agrees to pay a total amount up to €2m, which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2015/16. Of this amount, €0.5m shall be paid in full, irrespective of any early exit from the settlement regime, and will be withheld in three equal instalments. Payment of the remaining €1.5m is conditional and may be withheld in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement.

GNK Dinamo Zagreb (CRO)

• The settlement agreement covers the sporting season 2016/17.
• Dinamo Zagreb undertakes to reach full break-even compliance by monitoring period 2016/17 (i.e. reporting periods 2014, 2015 and 2016).
• Dinamo Zagreb accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2016/17, Dinamo Zagreb may only register a maximum of 23 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations.
• Dinamo Zagreb agrees to pay an unconditional amount of €0.2m.

Fenerbahçe SK (TUR)

• The settlement agreement covers the sporting seasons 2016/17, 2017/18, 2018/19 and 2019/20.
• Fenerbahçe undertakes to reach full break-even compliance by monitoring period 2019/20 (i.e. reporting periods 2017, 2018 and 2019).
• Fenerbahçe agrees to report a maximum annual break-even deficit of €30m for the financial year ending in 2016, €20m for the financial year ending in 2017 and €10m for the financial year ending in 2018.
• Fenerbahçe agrees to reach a defined employee benefit expenses to revenue ratio and to limit the amortisation and impairment of the costs of acquiring players' registrations for the financial year ending in 2017 and for the financial year ending in 2018.
• Fenerbahçe accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2016/17, the club may only register a maximum of 22 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations, and 23 players for the 2017/18 season. Such restriction will be lifted for seasons 2018/19 and 2019/20 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
• Fenerbahçe accepts, for the duration of the settlement agreement, a calculated limitation on the number of new registrations it may include within its A list for the purposes of participation in UEFA competitions. This calculation is based on the club's net transfer position in each respective registration period covered by the agreement. Such restriction will be lifted for seasons 2018/19 and 2019/20 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
• Fenerbahçe agrees to pay a total amount up to €7.5m, which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2015/16. Of this amount, €2m shall be paid in full, irrespective of any early exit from the settlement regime. Payment of the remaining €5.5m is conditional and may be withheld in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement.

Trabzonspor AŞ (TUR)

• The settlement agreement covers the sporting seasons 2016/17, 2017/18 and 2018/19.
• Trabzonspor undertakes to reach full break-even compliance by monitoring period 2018/19 (i.e. reporting periods 2016, 2017 and 2018).
• Trabzonspor agrees to report a maximum annual break-even deficit of €20m for the financial year ending in 2016 and €10m for the financial year ending in 2017.
• Trabzonspor agrees to reach a defined employee benefit expenses to revenue ratio for the financial year ending in in 2017.
• Trabzonspor accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2016/17, the club may only register a maximum of 22 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations, and 23 players for the 2017/18 season. Such restriction will be lifted as from season 2018/19 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
• Trabzonspor accepts, for the duration of the settlement agreement, a calculated limitation on the number of new registrations it may include within its A list for the purposes of participation in UEFA competitions. This calculation is based on the club's net transfer position in each respective registration period covered by the agreement. Such restriction will be lifted for season 2018/19 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
• Trabzonspor agrees to pay a total amount up to €2m. Of this amount, €1m shall be paid in full, irrespective of any early exit from the settlement regime. Payment of the remaining €1m is conditional and may be withheld from any revenues it earns from participating in UEFA competitions in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement.

Each club will be subject to ongoing monitoring in accordance with the Procedural Rules governing the CFCB. Settlement agreements may be reviewed by the CFCB Adjudicatory Chamber upon the request of the Chairman of the CFCB and/or upon the request of a directly affected party within ten days.