AC Milan face boot from Europa League for breach of financial fair play
Uefa investigators say Italian giants failed to meet break-even requirements which only allow £35m losses over three years
AC Milan are facing the boot from next season’s Europa League after Uefa found them guilty of breaking Financial Fair Play rules.
The San Siro giants finished sixth in Serie A to qualify for the competition.
But Uefa’s Financial Investigatory Chamber has ruled Milan have failed to meet their break-even requirements which allow losses of only £35million over a three-year period.
Uefa were unhappy with Milan’s financial model following the takeover by a Chinese consortium headed by billionaire Li Yonghong.
Loans made to the club and which are due to be repaid in October, have caused serious concerns and despite ongoing discussions which have lasted six months Milan have failed to persuade Uefa to accept a fine for their breaches.
In a statement, Uefa said: “After careful examination of all the documentation and explanations provided by the club, the Investigatory Chamber considers that the circumstances of the case do not allow the conclusion of a settlement agreement.
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“In particular, the Investigatory Chamber is of the opinion that, among other factors, there remains uncertainties in relation to the refinancing of the loan.”
The final decision is expected to be made next month but Milan are braced for a ban from next season’s competition and a transfer embargo.
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Milan chief executive Marco Fassone hit back last night, accusing Uefa of damaging the image of the club.
He said: "It seems important that Milan take a firm stance with the statement, which understandably, has caused a lot of bitterness to me.
“We went before UEFA 15 days after the deal was closed and returned in November of last year to discuss the Voluntary Agreement.
“It was not granted to us because of the €165m loan guarantee from the holding company.
“But now UEFA is not granting us the settlement as the holding company has not refinanced the debt.
“UEFA says that an inability to refinance puts the future of the club in doubt but we are managing the club in a healthy way and we deserved a settlement agreement.
“Beginning tomorrow morning our attorneys will get to work because the decision has sullied the image of our club."
French champions PSG are also facing serious punishment after their massive spending splurges since they were taken over by Qatari Sports Investments.
