UEFA lifts Financial Fair Play sanctions on Manchester City, Paris Saint-Germain

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Directors, players, coaches and fans of Manchester City and Paris Saint-Germain will feel like a weight has been lifted off their shoulders.

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That’s because European soccer’s governing body, UEFA, announced on Friday that it has lifted sanctions on City and PSG after both clubs fueled by oil-rich owners from the Middle East have curbed their spending over the past 12 months.

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Both clubs met spending limits imposed on them by UEFA last year, City could only spend $75 million on new signings, and the organization confirmed that both will now be able to spend more money on transfer fees and wages although still be “under strict monitoring” for the season ahead as part of their two-year sanction.

Here’s more from UEFA on Man City’s situation:

“The UEFA CFCB [club financial control body] has lifted a number of restrictions on Manchester City after the club reached certain targets towards break-even compliance as part of the ongoing monitoring of their settlement agreement.

“The club remains under strict monitoring and has still to meet break-even targets and is therefore subject to some limitations in 2016.”

City and PSG both forfeited $22 million worth of UEFA Champions League prize money last season after breaking FFP rules and were also reduced to only being able to name 21 players in their UCL squads. This season, with the sanctions lifted, both teams can now name a squad of 25 players for European competition and will not have to forfeit a further $22 million after curbing spending.

Many argue that the owners of City and PSG are pumping new money into the game and the sanctions were unfair punishment with other top clubs across Europe, such as Manchester United and Real Madrid, loaded with debt and untouched by UEFA’s FFP sanctions.

Earlier this week UEFA released a statement noting changes to the FFP rules and said it will encourage new investment from owners who could set out a plan that they would not damage a clubs long-term stability.

So, once again for City and PSG, let the spending begin… right?