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Man City transfer news: Blues' spending to go ahead despite FFP uncertainty
Uefa yet to announce decision on Manchester City restrictions
- 7 Shares
- Uefa yet to announce decision on Manchester City restrictions
Manchester City chief executive Ferran Soriano (left) and chairman Khaldoon Al Mubarak
City are going ahead with their summer spending plans despite the fog surrounding their financial fair play punishment.
The Blues have maintained a silence about the possible lifting of restrictions on transfer spending and wages placed on them by Uefa last year.
And the governing body have also refused to say whether they have given the Blues the green light that restrictions are lifted.
With the transfer window opening today, the spotlight fell back on City’s FFP punishment, which was originally scheduled to restrict them for 2014-15 and 2015-16.
There were three main elements to the “settlement” which City agreed with Uefa 13 months ago:
- transfer spending limited to £49m for 2014-15 and to an unspecified amount for 2015-16
- Wage bill not to rise in 2014-15 and 2015-16
- Payment of a £49m fine, reduced to £16m if club meets Uefa requirements
The main requirement was that the Blues would not report a deficit higher than £16m in 2014-15.
They actually racked up a deficit of £23m, but as £16m of that was Uefa’s fine, they were confident it met the requirement.
However, Uefa are still refusing to publicly say whether City are free from the restrictions, saying it will be two or three weeks before it becomes clear.
Uefa headquarters, where City's FFP fate is being decided
But the fact the Blues have not been fazed by Uefa’s failure to publicly lift the restrictions can be seen as confidence that they are in the clear.
Last month chairman Khaldoon Al Mubarak did say: “We dealt with the pinch last year from financial fair play, whether you agree with it or not, It’s behind us and we are out of it now.”