Press Esc to close
Tuesday 24 January 2017
News updated at 8:26 AM IST
Weather
Max: 30.3°C
Min : 16.8°C
In Bengaluru
Sunny day

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
Inmates of Netaji subhash Chandra Bose Central Jail perform at a programe on Netaji's birth...

Inmates of Netaji subhash Chandra Bose Central Jail perform at a programe on Netaji's birth...

The contingent of Indian Navy marching past during the full dress rehearsal for the Republic Day...

The contingent of Indian Navy marching past during the full dress rehearsal for the Republic Day...

Bollywood actors Sidharth Malhotra (L) and Katrina Kaif at the 'Umang Mumbai Police Show 2017...

Bollywood actors Sidharth Malhotra (L) and Katrina Kaif at the 'Umang Mumbai Police Show 2017...

Camel mounted Indian Border Security Force soldiers march during the full dress rehearsal for...

Camel mounted Indian Border Security Force soldiers march during the full dress rehearsal for...

An injured is taken away for treatment after police resorted lathicharge to disperse protesters...

An injured is taken away for treatment after police resorted lathicharge to disperse protesters...

Riot Control Police take away pro-Jallikattu protesters after a clash at the Marina Beach...

Riot Control Police take away pro-Jallikattu protesters after a clash at the Marina Beach...

A Pro-Jallikattu protester throws bottle at the police during a violent clash near Marina Beach...

A Pro-Jallikattu protester throws bottle at the police during a violent clash near Marina Beach...

A pro-Jallikattu protester throwing bottles at police personnel during a clash near Marina...

A pro-Jallikattu protester throwing bottles at police personnel during a clash near Marina...

A worker stitches the national flag at a workshop on the occasion of Republic Day in Bhiwandi...

A worker stitches the national flag at a workshop on the occasion of Republic Day in Bhiwandi...

Actors Jackie Chan and Sonu Sood along with the other starcast during a promotional event...

Actors Jackie Chan and Sonu Sood along with the other starcast during a promotional event...

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