UEFA to continue investigations into Liverpool finances
UEFA announced on Friday that investigations into the finances of seven European clubs, notably English Premier League side Liverpool, are to continue after a first round of hearings.
Paris: UEFA announced on Friday that investigations into the finances of seven European clubs, notably English Premier League side Liverpool, are to continue after a first round of hearings.
The UEFA Club Financial Control Body (CFCB) had given itself until the end of this week to decide whether or not to pursue the clubs for potential breaches of their Financial Fair Play rules.
Liverpool, AS Monaco, Roma, Besiktas, Inter Milan, FC Krasnodar of Russia and Sporting Lisbon had all hoped to escape further attention but the CFCB "has decided to continue its investigations into (the) clubs that had disclosed a break-even deficit on the basis of their financial reporting periods ending in 2012 and 2013."
The CFCB have also requested another six clubs "to provide additional information on their break-even position".
The clubs in question are Premier League side Hull City, Sparta Prague, Lyon, Panathinaikos, VfL Wolfsburg and Ruch Chorzow of Poland.
Liverpool`s situation is more worrying, though.
UEFA took the same route with Manchester City and Paris Saint-Germain last season and both were eventually handed significant penalties for breaches of Financial Fair Play (FFP), including fines, limits on their capacity to sign players and the withholding of prize money from European competitions.
The principle of FFP is to prevent clubs accruing losses in excess of a 45 million-euro ($55.3m, 35.5m pounds) limit over the course of two seasons.
The goal is to stop clubs from trying to buy success in the transfer market while also racking up huge debts that could threaten the health of the game.