Published By: Sports Desk
Last Updated: November 04, 2023, 07:54 IST
Barcelona lost an appeal to UEFA against being fined 500,000 euros ($537,000) for misreporting income under financial monitoring rules, the European soccer body said Friday.
UEFA’s club finance panel imposed the fine in July after Barcelona declared income in 2022 on profit from “disposal of intangible assets (other than player transfers) which are not a relevant income under the regulations.”
FC Barcelona is fined €500,000 by UEFA for violating financial control rules. UEFA press release: “FC Barcelona has been fined 500,000 € for having wrongly declared, during the 2022 financial year, profits on the sale of intangible assets (other than player transfers)… pic.twitter.com/w0KJou5B3u
— Football Talk (@FootballTalkHQ) November 3, 2023
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UEFA has not specified details of the revenue which was included in its accounts amid financial turmoil for the current Spanish champion.
In June 2022, Barcelona made a deal worth 207 million euros ($222 million) with investment firm Sixth Street in exchange for 10% of its domestic broadcast rights income over 25 years.
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Barcelona’s financial issues led to the club joining a failed launch of the European Super League in 2021, the reluctant departure of Lionel Messi later that year and an inability to bring Messi back for this season when he wanted to return. Messi instead joined Inter Miami.
The La Liga club have had deep economic problems in recent years, selling off a substantial chunk of future television rights income in 2022 and other parts of the club to keep buying and registering players in the short term.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Associated Press)