UEFA on Monday reopened the investigation into Paris Saint Germain’s finances over the club’s spending in September 2017. The club had last year signed Brazilian footballer Neymar Jr for a world-record signing of 222 million euros. The club then proceeded to sign young striker Kylian Mbappe from AS Monaco for 180 million euros in the same month.
The football governing body of Europe, under pressure from other big clubs of the continent, had opened an investigation, who alleged that the French club has broken UEFA’s financial fair play rules.
The governing body on Monday stated that it has directed the UEFA’s Club Financial Control Body (CFCB) to continue further investigation into the matter. A report in news agency AFP stated that “the case had now been referred back to the CFCB Investigatory Chamber for further investigation.” UEFA had earlier closed its investigation into PSG’s spending in June.
As per UEFA guidelines, a club cannot spend more than they earn in any season, while the deficits should fall within a bracket of 30-million euros over three seasons. However, in PSG’s case, it is complicated as the football club is flooded with revenue from lucrative sponsorship deals with Qatar National Bank and the Gulf state’s tourism authority.
If proved guilty, PSG will suffer a huge blow as it might lead to an exclusion from European competition for one or more seasons. PSG who have dominated the Ligue 1 have their eyes on Europe’s most coveted title the Champions League.
