European football governing body UEFA is set to refuse AC Milan’s application for a voluntary agreement regarding Financial Fair Play rules, Italian press said on Thursday.
With a loss of some 255 million euros ($300m) over the last three seasons, fallen Italian giants Milan are some way from complying with UEFA’s limit of 30 million euros in losses over that same period.
Chinese-owned Milan had been hoping for a negotiated agreement to avoid incurring any penalties but La Gazzetto dello Sport claimed that “UEFA says no to Milan’s plan” and described it as “a tough blow for the rossonero club”.
Milan responded by saying they had “always said we’re ready to face the other side of the coin”, meaning they are prepared to sign a “settlement agreement” with UEFA.
Settlement agreements are financial penalties and squad and salary restrictions imposed on clubs that fail to adhere to UEFA’s rules.
UEFA To Reject Milan’s Voluntary Settlement – Reports
