Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Sports»Barcelona lose appeal against fine for misreporting income | Football News
Sports

Barcelona lose appeal against fine for misreporting income | Football News

October 23, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Oct 18, 2024 08:05 PM IST

The Courtroom of Arbitration for Sport in Lausanne dismissed Barcelona’s enchantment and stated the sanction of 500,000 euros was “really fairly delicate.”

Barcelona must pay a superb of 500,000 euros (USD 542,000) after shedding one other enchantment towards a ruling by the Union of European Soccer Associations (UEFA), which accused the Spanish membership of “wilfully and consciously” misreporting revenue in a bid to adjust to European soccer’s monetary guidelines.

FC Barcelona have been fined by CAS.(REUTERS)
FC Barcelona have been fined by CAS.(REUTERS)

The Courtroom of Arbitration for Sport in Lausanne dismissed Barcelona’s enchantment and, in a extremely crucial ruling printed Friday, stated the sanction of 500,000 euros was “really fairly delicate.”

The case stems from the best way Barcelona dealt with its monetary reporting of a deal it secured to dump a share of its broadcast rights for the following 25 years, which UEFA stated was “manifestly inaccurate and non-compliant” with its guidelines geared toward guaranteeing accountable spending amongst soccer golf equipment in Europe.

In complete, Barcelona secured offers price 667.5 million euros (USD 724 million) in 2022 for promoting off 25% of its future broadcast earnings from the Spanish league for the following 25 years.

UEFA stated it then intentionally misreported a type of offers in its monetary accounts and “overstated” its break-even outcomes by 267 million euros (USD 290 million).

UEFA stated Barcelona “wilfully and consciously” submitted mistaken info and that the membership’s behaviour needed to be “condemned within the clearest phrases.”

European soccer’s governing physique has guidelines supposed to make sure the monetary stability of golf equipment. These guidelines solely enable golf equipment to make sure losses over three years.

The sale of “non-tangible belongings” equivalent to future broadcast earnings aren’t allowed to be included in these break-even calculations and Barcelona was fined 500,000 euros final yr for reporting income which weren’t related.

After shedding an enchantment at UEFA, Barcelona appealed to CAS and likewise argued that the scale of the superb was disproportionate.

Nevertheless, CAS upheld the sanction as a result of a smaller superb would “possible not be a sufficiently robust deterrent to stop a significant membership like FC Barcelona from deliberately misreporting revenue with a significant impression on its break-even outcomes.”

Barcelona has confronted monetary turmoil lately and reluctantly needed to enable membership nice Lionel Messi to depart the membership in 2021.

Keep up to date with the…

See extra

Keep up to date with the newest sports activities information, together with newest headlines and updates from the Olympics 2024, the place Indian athletes will compete for glory in Paris. Catch all of the motion from tennis Grand Slam tournaments, comply with your favorite soccer groups and gamers with the newest match outcomes, and get the newest on worldwide hockey tournaments and sequence.

Source link

appeal Barcelona fine football income lose misreporting news
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hours after first attempt to strike Jammu city foiled, Pakistan sends another barrage early morning — again repelled | India News

May 9, 2025

Riddhima Kapoor Sahni says ‘diets and Kapoors don’t go together’, gives an insight into breakfast at maternal home: ‘Mann kyu maarna hai’ | Food-wine News

May 9, 2025

Steve Kerr announces major decision on Jonathan Kuminga and Trayce Jackson-Davis’ role in Warriors-Timberwolves series

May 9, 2025

Neeraj Chopra to compete at Ostrava Golden Spike 2025

May 9, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Federal Reserve Keeps Key Interest Rate Unchanged

May 9, 2025

Hours after first attempt to strike Jammu city foiled, Pakistan sends another barrage early morning — again repelled | India News

May 9, 2025

Riddhima Kapoor Sahni says ‘diets and Kapoors don’t go together’, gives an insight into breakfast at maternal home: ‘Mann kyu maarna hai’ | Food-wine News

May 9, 2025

Steve Kerr announces major decision on Jonathan Kuminga and Trayce Jackson-Davis’ role in Warriors-Timberwolves series

May 9, 2025
Popular Post

Jimmy Kimmel Exposes Trump’s ‘Humiliating’ Experience

India pump in five past Kyrgyz Republic in women’s AFC Olympic Qualifiers tie | Football News

India’s Religare says US businessman makes competing offer for stake

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.