Paul Pogba (135 Viewers)
- Thread starter Lo-Pan
- Start date
Whilst L'Equipe are reporting that PSG are free of FFP restrictions, looking at the following text released from UEFA, it looks like Manchester City are still under restriction. Read Section 3.
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2 A licensee that demonstrates it has relevant income and relevant expenses (as defined in Article 58) below EUR 5 million in respect of each of the two reporting periods ending in the two years before commencement of the UEFA club competitions is exempt from the break-even requirement. Such an exemption decision is taken by the UEFA Club Financial Control Body and is final.
Other factors within the meaning of Article 68 to be considered by the UEFA Club Financial Control Body include, but are not limited to, the following:
a) The quantum and trend of the break-even result The larger the quantum of a break-even deficit relative to a licensee’s relevant income, in a reporting period or in aggregate for a monitoring period, the less favourably it will be viewed. An improving trend in the annual break-even results will be viewed more favourably than a worsening trend.
b) Projected aggregated break-even result As part of its assessment, the UEFA Club Financial Control Body may review the projected aggregated break-even result for reporting periods T-1, T and T+1. A projected aggregated break-even result that is within the acceptable deviation for reporting periods T-1, T and T+1 will be viewed favourably. Additionally, the UEFA Club Financial Control Body may also review the licensee’s long-term business plan (including future break-even information up to reporting period T+4) in order to better assess the strategy of the club. As part of its assessment, the UEFA Club Financial Control Body may consider the budgeting accuracy, i.e. licensee’s break-even result for a reporting period may be compared to the projected break-even information as previously submitted.
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ANNEX XII: Voluntary agreements for break-even requirement Principles
1. A club may apply to the UEFA Club Financial Control Body investigatory chamber to enter into a voluntary agreement with the aim of complying with the break-even requirement.
2. A club is eligible to apply to enter into a voluntary agreement if it:
i) has been granted a valid licence to enter the UEFA club competitions by its national licensor but has not qualified for a UEFA club competition in the season that precedes the entry into force of the voluntary agreement;
or ii) has qualified for a UEFA club competition and fulfils the break-even requirement in the monitoring period that precedes the entry into force of the voluntary agreement; or
iii) has been subject to a significant change in ownership and/or control within the 12 months preceding the application deadline.
3. The club must not have been party to a voluntary agreement (as defined in this annex) or subject to a disciplinary measure or settlement agreement (as foreseen in the Procedural rules governing the UEFA Club Financial Control Body) within the last three reporting periods.
4. A voluntary agreement can cover up to four reporting periods.
5. A voluntary agreement includes a structured set of obligations which are individually tailored to the situation of the club, break-even targets defined as annual and aggregate break-even results for each reporting period covered by the agreement, and any other obligations as agreed with the UEFA Club Financial Control Body investigatory chamber. Process 1. The application deadline is the 31 December preceding the licence season in which the voluntary agreement would come into force. 2. When applying for a voluntary agreement the club must: a) submit a long-term business plan, consisting of a balance sheet, a profit and loss account and a cash flow statement which must be based on reasonable and conservative assumptions, in the form communicated by the UEFA administration, including future break-even information up to reporting period T+4; b) demonstrate its ability to continue as a going concern until at least the end of the period covered by the voluntary agreement; 95 c) submit an irrevocable commitment(s) by an equity participant(s) and/or related party(ies) to make contributions for an amount at least equal to the aggregate future break-even deficits for all the reporting periods covered by the voluntary agreement. This irrevocable commitment must be evidenced by way of a legally binding agreement between the licensee and the equity participant and/or related party and, if required by the UEFA Club Financial Control Body investigatory chamber, it must also be secured by means of either: i) payments into an escrow account, or ii) a guarantee from another company in the legal group structure outside the reporting perimeter; or iii) such other form of security as the UEFA Club Financial Control Body investigatory chamber considers satisfactory; d) demonstrate its ability to meet the targets and obligations agreed with the UEFA Club Financial Control Body investigatory chamber. 3. The UEFA Club Financial Control Body investigatory chamber reviews each application and is free to conclude the corresponding voluntary agreement or not. 4. The UEFA Club Financial Control Body investigatory chamber monitors the proper and timely implementation of voluntary agreements. 5. Clubs bound by a voluntary agreement: a) undertake to provide the UEFA administration with information on a timely basis evidencing their compliance with all obligations included in the voluntary agreement; b) may be subjected to disciplinary measures by the UEFA Club Financial Control Body investigatory or adjudicatory chamber as foreseen in the Procedural rules governing the UEFA Club Financial Control Body if they fail to comply with the terms of their voluntary agreement.
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2 A licensee that demonstrates it has relevant income and relevant expenses (as defined in Article 58) below EUR 5 million in respect of each of the two reporting periods ending in the two years before commencement of the UEFA club competitions is exempt from the break-even requirement. Such an exemption decision is taken by the UEFA Club Financial Control Body and is final.
Other factors within the meaning of Article 68 to be considered by the UEFA Club Financial Control Body include, but are not limited to, the following:
a) The quantum and trend of the break-even result The larger the quantum of a break-even deficit relative to a licensee’s relevant income, in a reporting period or in aggregate for a monitoring period, the less favourably it will be viewed. An improving trend in the annual break-even results will be viewed more favourably than a worsening trend.
b) Projected aggregated break-even result As part of its assessment, the UEFA Club Financial Control Body may review the projected aggregated break-even result for reporting periods T-1, T and T+1. A projected aggregated break-even result that is within the acceptable deviation for reporting periods T-1, T and T+1 will be viewed favourably. Additionally, the UEFA Club Financial Control Body may also review the licensee’s long-term business plan (including future break-even information up to reporting period T+4) in order to better assess the strategy of the club. As part of its assessment, the UEFA Club Financial Control Body may consider the budgeting accuracy, i.e. licensee’s break-even result for a reporting period may be compared to the projected break-even information as previously submitted.
--
ANNEX XII: Voluntary agreements for break-even requirement Principles
1. A club may apply to the UEFA Club Financial Control Body investigatory chamber to enter into a voluntary agreement with the aim of complying with the break-even requirement.
2. A club is eligible to apply to enter into a voluntary agreement if it:
i) has been granted a valid licence to enter the UEFA club competitions by its national licensor but has not qualified for a UEFA club competition in the season that precedes the entry into force of the voluntary agreement;
or ii) has qualified for a UEFA club competition and fulfils the break-even requirement in the monitoring period that precedes the entry into force of the voluntary agreement; or
iii) has been subject to a significant change in ownership and/or control within the 12 months preceding the application deadline.
3. The club must not have been party to a voluntary agreement (as defined in this annex) or subject to a disciplinary measure or settlement agreement (as foreseen in the Procedural rules governing the UEFA Club Financial Control Body) within the last three reporting periods.
4. A voluntary agreement can cover up to four reporting periods.
5. A voluntary agreement includes a structured set of obligations which are individually tailored to the situation of the club, break-even targets defined as annual and aggregate break-even results for each reporting period covered by the agreement, and any other obligations as agreed with the UEFA Club Financial Control Body investigatory chamber. Process 1. The application deadline is the 31 December preceding the licence season in which the voluntary agreement would come into force. 2. When applying for a voluntary agreement the club must: a) submit a long-term business plan, consisting of a balance sheet, a profit and loss account and a cash flow statement which must be based on reasonable and conservative assumptions, in the form communicated by the UEFA administration, including future break-even information up to reporting period T+4; b) demonstrate its ability to continue as a going concern until at least the end of the period covered by the voluntary agreement; 95 c) submit an irrevocable commitment(s) by an equity participant(s) and/or related party(ies) to make contributions for an amount at least equal to the aggregate future break-even deficits for all the reporting periods covered by the voluntary agreement. This irrevocable commitment must be evidenced by way of a legally binding agreement between the licensee and the equity participant and/or related party and, if required by the UEFA Club Financial Control Body investigatory chamber, it must also be secured by means of either: i) payments into an escrow account, or ii) a guarantee from another company in the legal group structure outside the reporting perimeter; or iii) such other form of security as the UEFA Club Financial Control Body investigatory chamber considers satisfactory; d) demonstrate its ability to meet the targets and obligations agreed with the UEFA Club Financial Control Body investigatory chamber. 3. The UEFA Club Financial Control Body investigatory chamber reviews each application and is free to conclude the corresponding voluntary agreement or not. 4. The UEFA Club Financial Control Body investigatory chamber monitors the proper and timely implementation of voluntary agreements. 5. Clubs bound by a voluntary agreement: a) undertake to provide the UEFA administration with information on a timely basis evidencing their compliance with all obligations included in the voluntary agreement; b) may be subjected to disciplinary measures by the UEFA Club Financial Control Body investigatory or adjudicatory chamber as foreseen in the Procedural rules governing the UEFA Club Financial Control Body if they fail to comply with the terms of their voluntary agreement.
http://www.tuttosport.com/news/calc...incontro_finito_si_parlato_di_pogba_e_gerson/
More news outlets quoting marotta saying Pogba not for sale talks over
More news outlets quoting marotta saying Pogba not for sale talks over
We've strengthened since last season.
Got a new keeper in (after our keepers cost us in virtually every big game last season) and signed the best left-back in the league.
Just thinking about getting past these Macedonian chaps before contemplating the season as a whole, though.
