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Galatasaray Ffp Agreement

Among the 13 grounds cited by Milan, it was argued that the legal framework governing the offer of a transaction agreement was incompatible with EU competition law, as the basis for such a transaction was unclear and was not defined in the regulations. Dr Ben Van Rompuy (as an expert from Milan) told the body that it was essential that “the terms of a settlement agreement be clearly known and explained to the clubs” in order to comply with EU competition law. During the 2019/20 season, the CFCB Investigatory Chamber continued to monitor the remaining clubs under transaction agreements, namely CFR Cluj, Galatasaray SK, FK Kairat Almaty, Maccabi Tel Aviv and FC Porto. The June agreement indicates that the association will reach its projected break-up deficit of 20 million euros for the reference period until 2019. and 10 million euros for the reference period, which will end in 2020. The association must pay an additional fine of 9 million euros if it does not comply with the requirements of the contract. “[The CFCB Adjudicatory Chamber] … announced today its decision to refer the matter to the CFCB Board of Inquiry for further review. In the meantime, the settlement agreement reached on 13 June 2018 remains in force until further notice,” UEFA said in a statement last week.

Under the agreement, Galatasaray would limit the number of players, pay a fine to UEFA and reduce its expenses in order to obtain full compliance with the regulations. Any decision by the CFCB`s Chief Comptroller to dismiss a case, enter into or amend a transaction agreement, or apply disciplinary action within the meaning of section 14, paragraph 1, point c) may be reviewed by the board at the initiative of the CFCB Chair within 10 days of the decision being forwarded to the CFCB Chair. UEFA FFP Rules In June 2018, UEFA and Galatasaray agreed following an investigation into the Turkish association`s breach of financial fair play rules. The offences were revealed during the review of the 2017/18 observation period. On 13 June, UEFA and Galatasaray signed a four-year contract for the 2018/19, 2019/20, 2020/21 and 2021/22 seasons because the club did not meet the break-up requirement. During the period 2014/15, Galatasaray exceeded the acceptable loss of more than 130 million euros, undermining the FFP and the settlement agreement they had concluded with the CFCB. The CFCB Adjudicatory Chamber has excluded Galatasaray from the UEFA competition for two seasons. Galatasaray appealed the CAS, arguing that the FFP was illegal under EU competition law.19 Cas rejected Galatasaray`s arguments and criticised the club for: that it “relys heavily on press articles” and states that “the main purpose of the rule” “break-even” is to prevent small clubs from investing and recruiting talented new players.20 The CFCB Board of Inquiry noted that Galatasaray SK, FK Kairat Almaty and Maccabi Tel Aviv FC have achieved the agreed targets for the 2019/20 season; these clubs will remain in the implementation regime during the 2020/21 season. In addition, cfR Cluj was found to meet the overall objective of its transaction agreement signed in June 2019, which removed them from the comparison system.

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