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Brief: FC Porto Fined 750,000 Euros By CFCB For Financial Sustainablity Requirements Non-Compliance

July 4 (Reuters) - Futebol Clube do Porto Futebol SAD FCPP.LS:

INFORMS ON DECISION BY COMMITTEE OF FINANCIAL CONTROL (CFCB) ISSUED BY UEFA REGARDING FAILURE TO COMPLY WITH REQUIREMENTS ESTABLISHED IN FINANCIAL SUSTAINABILITY REGULATION

CFCB CONCLUDED THAT FC PORTO FAILED TO COMPLY WITH STABILITY INDICATOR CORRESPONDING TO ACCUMULATED VALUE OF FOOTBALL EARNINGS IN LAST TWO FINANCIAL YEARS, ENDING JUNE 2024

CFCB OPENED PROCEEDING TO ALLOW FC PORTO TO PROPOSE AND PRESENT TO UEFA IMMEDIATE CORRECTIVE MEASURES AND A MEDIUM-TERM FINANCIAL SUSTAINABILITY PLAN

CFCB DECISION ANNOUNCED TODAY CONSISTS OF AN EFFECTIVE FINE OF 750,000 EUROS AND A CONDITIONAL FINE OF 4.25 MILLION EUROS

Source text: https://tinyurl.com/yx59hdx8

Further company coverage: FCPP.LS

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))

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