UEFA hands Manchester United €300,000 fine for breaching Financial Fair Play rules

The Red Devils were fined for the financial year 2019, 2020, 2021 and 2022

UEFA has fined Manchester United an amount of €300,000 for breaching the Financial Fair Play rules in the last four financial years.

One of the reasons why Erik ten Hag has been handed a restricted budget in this transfer window is because the club attempts to stay within the FFP guidelines by the European governing body.

In a statement, UEFA said: "During the 2022/23 season the CFCB First Chamber, chaired by Sunil Gulati, concluded the assessment of the break-even requirement covering the financial years 2019, 2020, 2021 and 2022."

They added, "This is the last time the CFCB assessed the clubs on the basis of the “old” Club Licensing and Financial Fair Play (FFP) regulations, Edition 2018. Manchester United FC (ENG), Konyaspor (TUR) and APOEL FC (CYP) reported minor break-even deficits. These clubs were fined respectively with €300,000, €100,000 and €100,000."

Barcelona also received a fine of €500,000 for wrongly reporting profits on the disposal of tangible assets, other than player transfers, which are not deemed relevant income under the regulations.

Istanbul Basaksehir received a €400,000 fine for not meeting targets they had set for the 2022 financial year.

Last month, the English club reported positive financial results for the current year. Their revenue went up high by 11% amounting to around £170 million for the three months ending March 31. The report also included a projection that full-year revenues will hit a record £630m to £640m.

"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," the UEFA statement read.