UEFA to cut Fenerbahçe's European revenues
ISTANBUL- Anadolu Agency
Turkish football club Fenerbahçe has been fined €2 million ($2.3 million) by European football's governing body UEFA on July 22 for violating Financial Fair Play (FFP) rules.
UEFA said in a statement that it would withhold Fenerbahçe's €2 million in revenue from UEFA competitions over the next two seasons (2020-21 and 2021-22).
The Club Financial Control Body (CFCB) Adjudicatory Chamber sanctioned Fenerbahçe as the Istanbul club "failed to satisfy conditions imposed on 19 July 2019."
UEFA did not reduce the sanction to €1 million as Fenerbahçe prove unable to restructure its debt by Oct. 15, 2019.
FFP criteria involve break-even targets, sporting measures and financial contributions.
UEFA monitors clubs financially to make sure they are not spending more money than they earn, a measure created to help teams avoid financial problems in the long-term.