UEFA have fined Galatasaray €6 million for not abiding by the UEFA’s break-even requirement, the European governing body said on Wednesday.
Under a new agreement between UEFA and Galatasaray, the club will need to reach full break-even compliance by monitoring period 2021-2022, the Club Financial Control Body said in a statement on UEFA’s website.
Galatasaray will now have to report a maximum break-even deficit as forecast in their 2018 financial year report, the statement continued. The maximum deficit will be €20m in 2019 and €10m in 2020.
Now the club will have to pay an additional €9m fine if it fails to meet the requirements of the agreement. Galatasaray became Turkish league champions for a record 21st time last month.
UEFA said it also concluded that fellow Turkish club Besiktas has fully complied with its targets under a previous settlement agreement for the 2017-18 season.
It said Fenerbahce and Trabzonspor had partially fulfilled their targets under respective agreements and that transfer restriction and limitations on player numbers would continue to apply in the 2018-19 season.