Press Esc to close
Sunday 11 December 2016
News updated at 1:17 PM IST
Weather
Max: 28°C
Min : 15.4°C
In Bengaluru
Partially cloudy

UEFA withholds Atletico Madrid's prize money

London, Sep 11, 2012, Reuters:
Europa League winners Atletico Madrid were among 23 clubs to have prize money withheld as European football’s governing body UEFA revealed the first sanctions under its Financial Fair Play (FFP) rules on Tuesday.

UEFA said the clubs, who also include Qatari-owned La Liga side Malaga and Portugal's Sporting, were found to have "important" overdue payments to other teams, their own employees or social and tax authorities.

As a result their money for taking part in European competition would be withheld pending further investigation, UEFA said in a statement.

The clubs will have to provide an updated report on September 30 to a UEFA committee led by former Belgian Prime Minister Jean-Luc Dehaene. "This ... measure will remain in force until all identified balances have been settled in full or until a final decision by the (UEFA committee) is taken," said UEFA.

Among other clubs under investigation are Dinamo Bucharest and Rapid Bucharest of Romania, Turkey's Fenerbahce and Serbia's Partizan Belgrade.

All are involved in this season's UEFA competitions.
No clubs from the English Premier League, German Bundesliga, Italy's Serie A or France's Ligue 1 were among the named.

UEFA approved the introduction of the far-reaching FFP rules in 2009 in a bid to reduce debt and introduce better and more transparent financial dealings among clubs playing in its competitions. UEFA president Michel Platini said the measures have been introduced to stop clubs from spending their way into oblivion and to force them to live within their means.

They are also intended to stop wealthy owners from trying to buy success with limitless spending on players, distorting the transfer market in the process.

 

Go to Top

Photo Gallery
Indian sitar player and composer Anoushka Shankar performs at the live concert...

Indian sitar player and composer Anoushka Shankar performs at the live concert...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

International Animal Rights Day and Human Rights Day in Bengaluru...

International Animal Rights Day and Human Rights Day in Bengaluru...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523