Under the agreement, Galatasaray would limit the number of players, pay a fine to UEFA and reduce expenses in order to obtain full compliance with the regulations. Galatasaray chief Mustafa Cengiz will meet UEFA president Aleksander Ceferin on Thursday to discuss the financial situation with the Turkish football club. As part of a new agreement between UEFA and Galatasaray, the association must achieve full compliance by the 2021-2022 observation period, the club`s financial watchdog said in a statement published on UEFA`s website. Fenerbahce and Trabzonspor have partially fulfilled their objectives under the respective agreements and transfer and number restrictions on players will continue to apply during the 2018/19 season. UEFA said it had also concluded that Turkish association Besiktas had fully met its objectives in a previous transaction contract for the 2017/18 season. “[The CFCB Adjudicatory Chamber] … announced today its decision to refer the matter to the CFCB Board of Inquiry for further review. Meanwhile, the transaction agreement concluded on 13 June 2018 remains in force until further notice,” UEFA said on Friday. The association must pay an additional fine of 9 million euros if it does not comply with the requirements of the contract. Under the new agreement, Basaksehir may have “maximum break-even deficits of 10 million euros” in 2020, but has promised to balance his account by the 2023-24 season.
“Istanbul Basaksehir is committed to making a financial contribution totalling 1.5 million euros, withholding from the revenue it receives from participating in UEFA competitions. Of this amount, 0.3 million euros will be paid in full, while the balance of 1.2 million euros will depend on whether the association meets the “break-even” objectives set out in the transaction agreement,” he said. On 13 June, UEFA and Galatasaray signed a four-year contract for the 2018/19, 2019/20, 2020/21 and 2021/22 seasons because the club did not meet the break-up requirement. Any decision by the CFCB`s Chief Comptroller to dismiss a case, enter into or amend a transaction agreement, or apply disciplinary action within the meaning of section 14, paragraph 1, point c) may be reviewed by the board at the initiative of the CFCB Chair within 10 days of the decision being forwarded to the CFCB Chair. UEFA FFP UEFA Regulations also stated that Turkish champion Medipol Basaksehir “did not meet the break-up requirement,” so the club signed a new comparison contract for the 2020-21, 2021-22, 2022-23 and 2023-24 seasons. In June 2018, UEFA and Galatasaray reached an agreement following an investigation into the Turkish association`s breach of financial fair play rules. The offences were revealed during the review of the 2017/18 observation period. In a press release issued on 13 June 2018, the Board of Investigation announced that it was terminating an investigation against the French club. The investigation showed that after significant fair value adjustments to sponsorship contracts, the team was still operating within the financial limits required for 2015, 2016 and 2017.
Galatasaray coach Fatih Terim reacts during the round of 32 European League football matches between… [+] Galatasaray and Benfica in Istanbul, Thursday 14.02.2019. (AP Photo/Lefteris Pitarakis) CfCB financially monitors clubs to ensure they do not spend more money than they earn, a measure that was created to help teams avoid long-term financial problems. Galatasaray has won an appeal to the Court of Arbitration for Sport (CAS) against a decision by the UEFA Financial Fair Play Chamber to reopen an investigation. The transaction agreed by Galatasaray included the following: PSG immediately appealed the CAS decision and we are awaiting the verdict. Stay on the line. Ali Kucukgocmen`s report; The drafting of Toby Davis Galatasaray will have to declare a maximum deficit in the event of a break-up as envisaged in its 2018 budget report, it has been said.