UEFA to review Galatasaray case on financial situation
GENEVA - Anadolu Agency
"In light of the recent decision of the Club Financial Control Body (CFCB) Chief Investigator to conclude a settlement agreement with Galatasaray SK, the Chairman of the CFCB, Jose Narciso da Cunha Rodrigues, has decided to send the decision for review by the Adjudicatory Chamber," the UEFA said in a statement on June 25.
"This announcement does not pre-judge in any way the result of the review to be conducted by the Adjudicatory Chamber of the CFCB," UEFA added.
On June 13, UEFA and Galatasaray reached a four-year settlement agreement which covers the seasons 2018/19, 2019/20, 2020/21 and 2021/22 as the club was not in compliance with the break-even requirement.
Galatasaray had undertaken to reach full break-even compliance by the monitoring period 2021/22 and agreed to report a maximum break-even deficit as reported in its forecast for the financial year ending in 2018, ?20 million ($24 million) in financial year ending in 2019 and ?10 million ($12 million) for the financial year ending in 2020.