Monaco pledge to meet Financial Fair Play rules

Monaco: Monaco vice-president Vadim Vasilyev said Tuesday that the Ligue 1 club planned to adhere to UEFA`s Financial Fair Play (FFP) rules and would reduce their transfer budget as a consequence.

"The budget for transfers will be less substantial this summer," revealed Vasilyev, adding: "It`s not something new, I already said this a year ago." Asked during a press conference whether FFP, which is designed to ensure clubs do not spend more money than they make, had changed the club`s strategy, Vasilyev responded affirmatively. "The announcement of sanctions underlines once more that we again have to work harder to grow our revenue, with more sponsors and more fans. All of this is very important to respect the rules," said Vasilyev.  Monaco, who paid 170 million euros (£138m, $233m) in transfer fees following their return to the top flight last summer, were not affected by the FFP rules this season because they did not participate in European competition. That will change next term, though, as the principality outfit have qualified directly for the group stage of the Champions League. As was the case this season with French champions Paris Saint-Germain, who were fined 60 million euros (£48.9m, $82.2m) and saw their Champions League squad capped at 21 players for falling foul of the regulations, Monaco will be placed under the magnifying glass next spring by FFP experts. For clubs that contravene the rules the sanctions can range from an official warning to exclusion from European competition.