Panathinaikos (overdue payables), Decision of 12 December 2017, UEFA Decision

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Circumstances of the case

On 8 November 2017, the Club Financial Control Body (CFCB) Chief Investigator referred the case of the club Panathinaikos to the CFCB Adjudicatory Chamber due to the presence of overdue payables as at 30 September 2017. The club accepted the findings of the CFCB Chief Investigator, admitting the breach of Articles 65(1) and 66(1) of the UEFA Club Licensing and Financial Fair Play Regulations (CL&FFP Regulations). The club states that the aim of the club is to survive, comply with its obligations towards its creditors and asking for leniency considering its critical situation without harming the objectives of the UEFA’s Financial Fair Play System. The CFCB Adjudicatory Chamber determined that Panathinaikos has breached Articles 65(1) and 66(1) of the CL&FFP Regulations because it had overdue payables towards other football clubs and in respect to its employees as at 30 September 2017. The CFCB Adjudicatory Chamber deemed that an exclusion from the next UEFA club competition for which the Club would otherwise qualify in the next three (3) seasons and a fine of €200,000 are appropriate penalties. However, considering the circumstances and particularities of the case, the CFCB Adjudicatory Chamber decided that the exclusion as well as half of the fine, i.e. €100,000, will be lifted if the club is able to prove having paid the amounts or concluded an agreement with the creditors with regard to the amounts identified as overdue payables.

Decision

The Adjudicatory Chamber of the Club Financial Control Body (CFCB) decided to exclude Panathinaikos from participating in the next UEFA club competition for which it would otherwise qualify in the next three (3) seasons (i.e. 2018/19, 2019/20 and 2020/21 seasons), unless the club is able to prove by 1 March 2018 that it has paid the amounts or concluded an agreement with the creditors with regard to the amounts that were identified as overdue payables as at 30 September 2017.

The club was also fined €200,000, from which €100,000 is suspended and will only fall due in case the club is not able to prove by 1 March 2018 that it has paid the amounts or concluded an agreement with the creditors with regard to the amounts that were identified as overdue payables as at 30 September 2017.

Chairman: José Narciso da Cunha Rodrigues (Portugal)

Vice-Chairmen:
Christiann Timmermans (Netherlands)
Louis Peila (Switzerland)

Members:
Charles Flint (England)
Adam Giersz (Poland)

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