Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS


Financial Fair Play and Russian Clubs
May 19, 2014 10:11


Photo Credit: http://www.dohastadiumplusqatar.com
 
Three Russian football clubs have been fined by UEFA for violating its Financial Fair Play rules. Zenit St. Petersburg, Rubin Kazan and Anzhi Makhachkala are facing a penalty between EUR 2 and 12 million.
 
UEFA also announced it has reached settlement agreements with all the three clubs. In case of Zenit, the terms are as follows:
  • Zenit undertakes to report a maximum break-even deficit of EUR 30 Mio. for the financial year ending in 2015 and no break-even deficit for the financial year ending in 2016.
  • Zenit accepts that employee benefit expenses cannot be increased during the next two financial reporting periods (2015 & 2016).
  • Zenit accepts that for the duration of the settlement 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 2014/15 Zenit 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. If Zenit manages to comply with the break-even target the club shall gradually be released from the restriction as regards the registration of players in UEFA club competitions.
  • Zenit agrees to pay a total amount of EUR 12 Mio. which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2013/14. Of this EUR 12 Mio. an amount of EUR 6 Mio. will be withheld conditionally and will be returned to Zenit if the club fulfills the operational and financial measures agreed with the UEFA CFCB.
This is mostly bad news for Zenit since neither Rubin nor Anzhi are going to play in any of the European competitions next season.
 
Zenit’s new coach will face a restriction on new acquisitions, implying a tough dilemma: to sign a new star player, he would have to sell someone from the current squad. Will it be Hulk?



Author: Mikhail Vesely

Tags: Hulk Zenit St. Petersburg Rubin Anzhi Makhachkala  

Next Previous

You might also find interesting:

List Of the Richest Russsian Businessmen Gambling in Russia Russian Banks Are Not Ready to Withstand the Crisis Oil goes East Promsvyazbank Posts 1H2015 Financials





comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share


TAGS:
Baikal  international competition  UNESCO  US sanctions  Heroes of Russia  Gifts Expo  Beat Weekend Film Festival  Nizhny Novgorod  Exhibitions in Moscow  Virgin Mary  Omsk  Festivals in Moscow  Ushanka  Sochi Games   Repin Academic Dacha  Russian ballet  Ukraine  North Caucasus  Victor Golyavkin  train tickets Russia FIFA  Russian theatre  Monuments in Volgograd  Antiquarian Salon  Visa   Mercedes-Benz Fashion Week Russia  Republic of Bashkortostan  Neurotheatre  Cancer  St. Petersburg  Tyumen State Academy of Culture, Arts and Social Technologies  Rosa Khutor  Cold  Arctic  physics  Russian regions  Moscow  Russian Cinema  religious tourism  Sergei Lazarev  Children's Museums  Primorsky Territory  travel to Russia  Russian culture  Russian physics  Space Simulator  Child Labour  Russian business  Art Exhibitions  Russian Internet  Russian tourism 


Travel Blogs
Top Traveling Sites