Paris Saint-Germain has won a major victory following Court of Arbitration for Sport ruling backing the club against UEFA over allegations of financial wrongdoing.
PSG had appealed to the CAS in October last year after a UEFA panel decided in September to reopen the probe into the club’s compliance with Financial Fair Play regulations.
UEFA had originally cleared PSG of wrongdoing in June following a probe triggered after PSG splashed out €400 million to buy Brazilian superstar Neymar and French phenomenon Kylian Mbappe.
“The appeal filed at the CAS on 3 October 2018 by Paris Saint-Germain against the decision issued on 19 September 2018 by the Adjudicatory Chamber of the UEFA (to reopen the case) is upheld and the challenged decision is set aside,” CAS said in a statement yesterday.
It added that the ruling was “final and binding.”
The probe was opened to determine whether PSG respected financial rules imposed by UEFA which broadly limit them to spending no more than they earn.
The club said in a statement it “took note of the favourable decision and intends to go ahead serenely with its development.”
PSG argued that the decision to reopen the case violated UEFA’s own rules limiting to 10 days the period of review of its original decision to drop the case.
UEFA rules “provided for a 10-day review period during which any review should be instigated and completed and that the challenged decision (to reopen the case) was manifestly late,” the CAS statement added.
UEFA’s Financial Control Board ordered the review on June 22 last year and the decision to reopen the case came almost three months later on September 19.