UEFA wants PSG to raise cash to meet break-even target
NYON, Switzerland (AP) UEFA wants Paris Saint-Germain to raise millions of euros (dollars) in income by the end of the month or face punishment for overspending.
UEFA says its club finance investigators decided the French champion overstated the market value of ”several club sponsorship contracts.” Those include deals from Qatar closely linked to PSG’s owners.
Though UEFA was satisfied with deals to sign star forwards Neymar and Kylian Mbappe last year, the transfers worth hundreds of millions of euros (dollars) have tested PSG’s ability to approach break-even figures on football-related business in the financial year ending June 30.
UEFA says the club will ”remain under close scrutiny and will be thoroughly looked at in the coming weeks.”
UEFA’s club finance judging panel can intervene after PSG completes its annual accounts.