NEWS
Tuesday November 21 2017
Report: UEFA to reject Milan’s FFP deal

Reports in Spain claim UEFA will reject Milan’s proposal of a voluntary agreement on Financial Fair Play.

The Rossoneri were taken over by a Chinese consortium, Rossoneri Sport Investment Lux, in April led by Yonghong Li.

A big summer transfer campaign followed, with the Diavolo spending over €200m to reinforce Vincenzo Montella’s squad.

Clubs which have recently been taken over can apply for dispensation to extend their Financial Fair Play responsibilities over four years.

However, they must still submit realistic plans to become profitable or face sanctions from European football’s governing body.

Milan submitted accounts to UEFA earlier this month, as they hope to come to a voluntary agreement over their FFP obligations.

This morning’s Marca though is reporting that UEFA are completely unconvinced by the plans, as all the investments have been made based on the sporting success of the Rossoneri.

Given that they’re already 11 points away from the Champions League places, that isn’t seen as being a sensible plan to become profitable.

If UEFA do reject the plans they will have to come up with a new arrangement and possible sanctions for Milan, which could include being barred from European competition.

While this is still unconfirmed it adds to troubling rumours around the club, with the New York Times reporting last week that Yonghong Li is unknown in China, and may not own the mining company which is said to be behind his wealth.