PSG financial probe dropped

Afp, Paris

20th March, 2019 10:13:18 printer

Paris Saint-Germain won a major victory Tuesday when the world’s top sports court backed the French champions against European football’s governing body UEFA over club finances.

The Court of Arbitration for Sport upheld PSG’s appeal against a UEFA decision to reopen a probe into the club’s compliance with Financial Fair Play regulations.

UEFA had originally cleared PSG of wrongdoing in June following an investigation triggered by PSG splashing out 400 million euros ($454 million) to buy Brazilian superstar Neymar and French phenomenon Kylian Mbappe.

“The appeal filed at the CAS on 3 October 2018 by Paris Saint-Germain against the decision issued on 19 September 2018 by the Adjudicatory Chamber of the UEFA (to reopen the case) is upheld and the challenged decision is set aside,” CAS said in a statement.

However, Qatari-owned PSG’s financial troubles are not yet over.

The French club’s sponsorship deals are under the microscope amid allegations of inflated income including from Qatar’s tourism authority.

The club has a financial hole of around 100 million euros and must present a balanced budget on June 30, according to multiple media reports.