NYON: UEFA’s CFCB First Chamber imposed disciplinary measures against 12 clubs in breach of the financial sustainability requirements. The First Chamber of the Club Financial Control Body (CFCB), chaired by Sunil Gulati, has announced a series of decisions involving clubs under monitoring in the 2024/25 season.
Football earnings rule
The CFCB First Chamber found that HNK Hajduk Split (CRO), Aston Villa FC (ENG), Chelsea FC (ENG), FC Barcelona (ESP), Olympique Lyonnais (FRA) and FC Porto (POR) did not comply with the football earnings rule which was assessed for the first time in the 2024/25 season. The analysis covered the financial years ending in 2023 and 2024.
In assessing the clubs’ compliance with the football earnings rule, the CFCB placed particular attention on transactions involving the sale of tangible or intangible assets, the exchange of players (so called “swaps”) and the transfers of players between related parties. Clubs were required to perform adjustments, as profits from such transactions cannot be recognised as relevant income according to the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2024 (“Regulations”).
HNK Hajduk Split, Aston Villa FC, Chelsea FC, FC Barcelona and Olympique Lyonnais agreed to settlement agreements with the CFCB which cover either a 2-year, 3-year or a 4-year period. The duration of each settlement agreement is dependent on the clubs’ ability to comply with the Regulations within a specified timeline. Clubs’ final target is to be fully compliant with the football earnings rule by the end of the settlement period (i.e., in 2026/27 season for a 2-year period, in 2027/28 season for a 3-year period, in 2028/29 season for a 4-year period).
All clubs agreed to pay a fine (conditional and unconditional) which level is based on the size of the assessed breach. The settlement agreements covering a 4-year period further take into account the financial result forecasted for the financial year ending in 2025.
The details are summarised below:
Clubs Duration Total fine Out of which unconditional
Chelsea FC (ENG) 4 years €80m €20m
FC Barcelona (ESP) 2 years €60m €15m
Olympique Lyonnais (FRA) 4 years €50m €12.5m
Aston Villa FC (ENG) 3 years €20m €5m
HNK Hajduk Split (CRO) 3 years €1.2m €0.3m
All clubs further agreed to be subject to a restriction on the registration of new players on their List A for UEFA club competitions. Such a measure could be conditional, unconditional or both and covers one or more seasons depending on the length of the settlement.
Moreover, all clubs agreed to reach intermediate annual targets, and to the application of conditional financial and sporting measures should these targets not be met (i.e. stricter restriction on the registration of new players on the list A and exclusion from the next UEFA club competitions for which they will qualify).
Additionally, Olympique Lyonnais agreed on an exclusion from the 2025/26 UEFA club competitions should the French authority (DNCG) confirm the club’s relegation to Ligue 2..
Further details on these settlement agreements can be found here.
Finally, FC Porto was fined €5m, out of which €0.75m are unconditional and €4.25m are payable only if the club does not fulfil the football earnings rule in the 2025/26 season
Squad cost rule
The CFCB First Chamber found that Aston Villa FC (ENG), Chelsea FC (ENG), Panathinaikos FC (GRE) and Beşiktaş JK (TUR) breached the squad cost rule, having reported a squad cost ratio above 80% for 2024 (transitional threshold set for 2024).
All the abovementioned clubs reported a squad cost ratio between 80% and 90% and were imposed an unconditional fine (as foreseen in the Regulations) which level is proportionate to the size of the club’s squad cost excess.
The details are as follows:
Clubs Fine
Chelsea FC (ENG) €11m
Aston Villa FC (ENG) €6m
Besiktas JK (TUR)* €0.9m
Panathinaikos FC (GRE) €0.4m
* Decision currently before the CFCB Appeals Chamber
The CFCB reminds all clubs that as from 2025 the squad cost ratio will be 70%.
Incomplete or late submission of financial information
The CFCB First Chamber found that FK Bodø/Glimt (NOR) and FK Sarajevo (BIH) declared an incomplete reporting perimeter in financial year ending in 2023, resulting in the submission of incomplete financial information. Such a situation was promptly corrected in financial year ending in 2024.
Both clubs agreed to the payment of an unconditional fine, respectively €0.5m and €0.25m. Should this offence be repeated within the next 3 years, both clubs agreed on an exclusion from the next UEFA club competition for which they would otherwise qualify.
Finally, Wisła Kraków(POL) was imposed a fine of €20,000 for having submitted late financial information during the 2024/25 season
Clubs under previous settlement
The CFCB First Chamber continued monitoring the ten clubs that were under settlement regime during the 2024/25 season. Details on those past settlement agreements can be found here.
AC Milan (ITA), FC Internazionale Milano (ITA), AS Monaco FC (FRA), Olympique de Marseille (FRA), Paris Saint-Germain (FRA), Beşiktaş JK (TUR), Trabzonspor A.Ş. (TUR) and Royal Antwerp FC (BEL) were all found to have fulfilled the intermediate financial targets set for the financial year ending in 2024.
AS Roma (ITA) slightly exceeded the intermediate target set for the financial year ending in 2024 and was fined €3m.
İstanbul Başakşehir FK (TUR) had been previously imposed a conditional exclusion by the CFCB. Previous decision can be found here. The CFCB First Chamber established that the club was in compliance with the football earnings rule for the 2024/25 season. As a result, the club will not be excluded from the 2025/26 UEFA club competitions and exit the settlement regime.