UEFA Rejects Barcelona's Appeal Over $537,000 Fine for Financial Misreporting
Barcelona dealt further financial blow as misdeclared revenues, including a deal to sell 10% of its domestic broadcast rights, spark UEFA fine amid ongoing monetary struggles.
- UEFA has decided to uphold the $537,000 fine against Barcelona for misreporting their income under financial monitoring rules.
- In 2022, Barcelona falsely declared profits from the disposal of intangible assets which are not recognized as relevant income under UEFA regulations.
- As part of an effort to address its financial issues, Barcelona had secured a deal with investment firm Sixth Street in June 2022, selling 10% of its domestic broadcast rights income over 25 years for about $222 million.
- Barcelona's monetary troubles have also been linked to their involvement in the unsuccessful attempt to establish the European Super League in 2021.
- The ongoing financial struggles led to the departure of renowned player Lionel Messi, who joined Inter Miami after failing to return to Barcelona due to the club's financial constraints.