Manchester United has been fined £256,000 by UEFA for a breach of Financial Fair Play rules.
The club expressed their disappointment with the decision and released a statement clarifying their position.
They accepted the fine, acknowledging it as a penalty for a minor technical breach of UEFA’s previous Financial Fair Play regulations.
Despite the setback, Manchester United remains committed to adhering to financial regulations and maintaining a sustainable approach in accordance with UEFA’s guidelines.
It read: “While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules.
“This reflected a change in the way that UEFA adjusted for COVID-19 losses during the 2022 reporting period, which allowed us to recognise only €15m of the €281m of revenues lost due to the pandemic within the FFP calculation.
“Post pandemic, the club’s revenues have recovered strongly and are forecast to reach a record level in the current financial year.
“The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”
Manchester United incurred Covid-related losses of £40 million during the 2022 monitoring period, which added to the financial impact of the pandemic over the previous two years, totaling £200 million. This amount is higher than that of any other Premier League club.
Unfortunately, United was unable to account for these losses in the 2022 break-even calculation due to a change in the way UEFA handled Covid-related losses within their new financial regulatory structure. While the club remained compliant with the Premier League’s Financial Fair Play rules, they fell short of the new requirements set by UEFA.
It is believed that Manchester United is confident they would have easily met the threshold under the previous rules and are disappointed with UEFA’s lack of flexibility.
It’s important to note that the £256,000 fine imposed by UEFA is based on previous Financial Fair Play rules and does not impact the club’s transfer budget for the current summer window.