On Thursday, UEFA announced that a formal investigation will take place into the finances of Premier League side Liverpool and six other European teams over “possible Financial Fair Play (FFP) breaches.”
According to UEFA, Liverpool, Inter Milan, AS Roma, Sporting Lisbon, AS Monaco, Besiktas and FC Krasnodar will all being investigated after recently submitting details of their financial accounts to European soccer’s governing body.
Liverpool will be under the spotlight after being absent from European competitions last season, and the rules state that all clubs must not lose more than $57.7 million over a two-year-period.
According to financial records, Liverpool are said to have lost $81.2 million in the 2012-13 season and a further $66.1 million for the 10-month period before that.
Below is the statement from UEFA, as Liverpool are among seven European teams currently competing in either the Champions League or Europa League who are under investigation.
“The UEFA Club Financial Control Body (CFCB) has opened formal investigations into seven clubs (AS Monaco FC, AS Roma, Beşiktaş JK, FC Internazionale Milano, FC Krasnodar, Liverpool FC and Sporting Clube de Portugal) as they disclosed a break-even deficit on the basis of their financial reporting periods ending in 2012 and 2013. These clubs will need to submit additional monitoring information during October and November upon the deadlines set by the CFCB, subsequent to which an additional communication will be made and conservatory measures may be imposed.”