European giant Club has been charged £500k by UEFA this morning After misreporting profits whereby breaking FA Financial Rule they will be relegated
Barcelona’s attempt to appeal a $537,000 fine imposed by UEFA for misreporting income amid financial challenges has been rejected. The European football governing body, based in Nyon, Switzerland, announced on Friday that Barcelona’s appeal was unsuccessful.
The fine of 500,000 euros ($537,000) was imposed by UEFA’s club finance panel in July after Barcelona was found to have misrepresented income in their 2022 financial reports. Barcelona had incorrectly reported income from the “disposal of intangible assets (other than player transfers),” which was not considered relevant income under financial monitoring regulations.
UEFA has not disclosed the specific details of the income that led to the fine, leaving some uncertainty surrounding the situation.
Barcelona’s financial struggles have been evident in recent years, with the club facing economic difficulties. In June 2022, Barcelona entered into a 25-year agreement with Sixth Street, an investment firm, worth 207 million euros ($222 million). This agreement involved a 10% share of the revenue generated from domestic broadcast rights.
The financial hardships also led Barcelona to participate in the ill-fated European Super League debut in 2021, a move that contributed to Lionel Messi’s departure from the team later that year. Despite Messi’s desire to return to the club for the current season, Barcelona was unable to secure his return, and Messi ultimately signed with Inter Miami.
