UEFA withholds prize money for 23 clubsSeptember 11th, 2012 - 9:40 pm ICT by IANS
Moscow, Sep 11 (IANS/RIA Novosti) Rubin Kazan, Atletico Madrid and 21 other football clubs involved in UEFA competition this season saw the payment of their prize money temporarily withheld, the UEFA club financial control body’s investigatory chamber announced Tuesday.
Rubin, who won the 2012 Russian Super Cup, face Inter Milan in the group stage of the Europa League. They also play Partizan Belgrade, another team from the UEFA’s 23-strong list.
According to the financial fair play requirements included in the UEFA regulations, the clubs participating in this season’s UEFA competitions had to provide information regarding the status of any overdue payables as at 30 June 2012.
“Following its last meeting in August 2012, the CFCB investigatory chamber has identified that important overdue payables towards other clubs, and/or towards employees or social/tax authorities existed in 23 cases,” a statement on the UEFA website said.
Besides Rubin and Atletico, these cases involve such clubs as Sporting Lisbon, Fenerbahce, Malaga CF and Rapid Bucharest.
“The CFCB investigatory chamber will continue their investigations and request these clubs to provide an updated situation as of 30 September 2012 with regards to overdue payables towards other clubs, employees and social/tax authorities,” the statement said.
The prize money received by the clubs are divided into fixed payments based on participation and results, and variable amounts that depend on the value of their television market.
In the 2010-2011 season, payments for reaching qualifying rounds of the Europa League equalled 90,000 euros, while the winner of the Champions League got 9 million euros.
“Withholdment of the prize money will remain into force until all identified balances have been settled in full or until a final decision by the CFCB adjudicatory chamber is taken,” the statement said.
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Tags: atletico madrid, cfcb, fair play, fenerbahce, final decision, football clubs, group stage, inter milan, malaga cf, payables, prize money, rapid bucharest, ria novosti, rubin kazan, sporting lisbon, tax authorities, television market, uefa competitions, uefa regulations, variable amounts