UEFA warns PSG 'tell us how you're going to pay for Neymar'

Uefa will demand to know how Paris Saint-Germain intend to finance their world-record £198 million transfer deal for Barcelona’s Brazilian superstar Neymar, with European football’s governing body reiterating its stance that financial fair play rules will be enforced.

On a dramatic day, Barcelona announced on Wednesday that Neymar, 25, had told them of his intention to leave and that in response had said he could only do so on payment of the £198 million (€222m) buy-out clause included in the new contract he signed last year.

It is anticipated that the Qatari-owned PSG will pay it in full although the structure of the deal, expected to be €450m in total, will have to pass Uefa’s financial fair play (FFP) rules.

Neymar is expected to earn around €55m a year before tax meaning that the total deal, spread over the course of a five-year contract, could cost €90m annually - almost a quarter of PSG’s current annual revenue of €389.6m.
In a statement to Telegraph Sport , Uefa reiterated its stance that FFP would be enforced, saying the organisation is “exceptionally serious” that clubs are not permitted to make losses in excess of €30 million over three years.

When the deal goes through it will more than double the current world-record transfer fee, the £89m paid by Manchester United to Juventus for Paul Pogba last summer, and it will make Neymar the world’s best-paid player.

Barcelona are expected to make a further offer for Liverpool’s Philippe Coutinho although Jurgen Klopp has said once again that the club will not entertain offers at any level for the Brazilian. Barcelona may yet try to hit back by signing Monaco’s 18-year-old striker Kylian Mbappe, a target for Real Madrid this summer.

Uefa’s FFP chief, Andrea Traverso, head of club licensing, has repeated in recent weeks that the organisation will pursue the FFP measures brought in by former president Michel Platini. While Fifa are responsible for regulating football’s transfer market, Uefa is also confident that there is no loophole that can be exploited by PSG owner’s, Qatari Sports Investments, to circumvent rules.

There have been reports that the Qatari state might pay Neymar the buy-out fee which he would lodge personally to achieve free agency, thus ensuring that any transfer fee was not paid by PSG. There are suggestions he may also be paid separately as an ambassador for the 2022 World Cup finals. Article 72 of the FFP regulations is intended to mitigate against any attempts by clubs to circumvent legislation.

Telegraph UK

Comments

The story of how Nigeria’s census figures became weaponized - Feyi Fawehinmi

By Feyi Fawehinmi The story of Nigeria’s 1962 census never gets old. Southern politicians seeking to end the north’s dominance of Nigerian politics decided that the only way to do it was through the census. Population figures at the time determined not only parliamentary representation but also revenue allocation and employee distribution in the civil service. In May 1962, the first census under an independent Nigerian government began. There had been a frenzy of mobilization by politicians in the south of the country using pamphlets, radio, schools, churches and mosques. Although the final results were not made public, the preliminary results were quite clear as to what had happened: the north’s population had gone up from 16.5 million in the last census in 1952 to 22.5 million, an increase of 30%. But in some parts of the east, the population had increased by up to 200% and more than 70% in general. The west also reported an increase of 70%. What the preliminary results showed...

FG borrows N3.38bn To Aid Potato Production in Plateau

The Federal Executive Council (FEC) wednesday approved N3.38 billion to boost the production of potatoes in Plateau State. The Minister of Finance, Mrs. Kemi Adeosun, who made the disclosure said the money would be borrowed from Agricultural Development Bank (ADB) with one per cent interest rate and 25 years moratorium. The minister who said the loan was not fresh, explained that it had previously been cancelled by the federal government with the intention to make a fresh request for the loan on behalf of Plateau State which she said was responsible for 95 per cent of potato production in the country. According to her, following ADB’s comprehensive programme on potato production in Plateau State, 100,000 families and 17 local government areas of Plateau State would benefit from the loan while 60,000 jobs would be created by the initiative. “My approval was on behalf of Plateau State to support the potato value chain. There is a loan that we had previously cancelled from ...

Buhari's Economic Blueprint Does Not Address Nigerians' Need - Bill Gates

Sahara Reporters The present economic templates being used by the Muhammadu Buhari government do not have the ability to address the unique needs of Nigerians at present, American business magnate, Bill Gates, has said. The philanthropist and founder of Microsoft corporation however said Nigeria has the ability to approach ‘upper middle-income status’ like Brazil, China and Mexico, but added that achieving this status depends on ”the choice Nigerian leaders make”. Mr. Gates, at the special and expanded National Economic Council, held in Abuja on Thursday tasked Nigerian leaders to sincerely invest in not just infrastructural development but also human investment. The theme of the meeting was “Role of human capital investment in supporting pro-poor and economic growth agenda”. The investor said though Nigeria is rapidly approaching upper- middle income status, the country has ”unmatched economic potential and what becomes of that potential depends on the choice Nigerian ...

ATTENCAO

Search This Blog