UEFA Open Financial Fair Play Investigation into PSG After Massive Summer Spending
After a rather record-shattering transfer window which saw Neymar and Kylian Mbappe arrive at the Parc des Princes, Qatari-backed Paris Saint-Germain have become the latest club set to be investigated by UEFA.
As UEFA begin their Financial Fair Play review, the Club Financial Control Body will investigate and evaluate all financial documentation associated with PSG, after concern was provoked that the French capital club had flouted rules set to control spending.
A short statement released on UEFA's website on Friday night reads: "The Investigatory Chamber of the UEFA Club Financial Control Body has opened a formal investigation into Paris Saint-Germain as part of its ongoing monitoring of clubs under Financial Fair Play (FFP) regulations.
"The investigation will focus on the compliance of the club with the break-even requirement, particularly in light of its recent transfer activity.
"UEFA considers Financial Fair Play to be a crucial governance mechanism which aims to ensure the financial sustainability of European club football."
Many in the world of football had expected PSG to come under UEFA scrutiny for their summer dealings which notably included the signings of Neymar for a world-record fee of around €220m and teenage sensation Kylian Mbappe, who has joined on loan from Monaco with an obligation to buy next summer for €180m.
Interesting - PSG had a 3-hour meeting with Uefa on Aug 23 to go through finances on Neymar + Mbappe + FFP + so are surprised at inquiry— Jason Burt (@JBurtTelegraph) September 1, 2017
UEFA, which has power to ban clubs from the Champions League as well as impose heavy financial sanctions, created the Financial Fair Play regulations and 'break-even' rules to ensure clubs balance their spending with their revenue.
According to Deloitte figures, as reported by the BBC, PSG made a profit of €10m on revenue of €520.9m euros in the 2015/16 financial year.
This is the not the first time PSG have been investigated under FFP rules and even received a fine and spending cap for previously breaking regulations with excessive spending.