UEFA to deny AC Milan fair play settlement agreement

Remigio Civitarese
Dicembre 7, 2017

UEFA on Thursday denied media reports that it has already chose to reject AC Milan's application for a voluntary agreement regarding its Financial Fair Play rules.

Chinese-owned Milan had been hoping for a negotiated agreement to avoid incurring any penalties but La Gazzetto dello Sport claimed that "UEFA says no to Milan's plan" and described it as "a tough blow for the rossonero club". "The committee for the clubs' financial control will meet on Friday to discuss the voluntary agreement request and the decision is expected next week".

"Milan has always declared itself ready to face the other side of the coin, which is the settlement agreement", the club said in a statement reacting to the report.

Milan reportedly had losses of 255 million euros over the past three years and recently took a loan from USA private equity fund Elliott worth more than 300 million euros.

Milan CEO Marco Fassone said the club has a refinancing plan that it expects to complete by April in order to repay Elliott.

Possible punishments include limits on transfer spending, player salaries, and squad sizes for UEFA competitions.

Such sanctions only come into play if teams qualify for Europe and Milan are now eighth in Serie A, five points and two places off a Europa League berth.

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