Milan: European football’s governing body Uefa has rejected a request by AC Milan to waive the Financial Fair Play (FFP) rules, citing uncertainties in the Italian club’s financial situation, it said.
Under Uefa regulations, any European club that spends more than its generated revenue faces possible sanctions, including, in certain circumstances, a ban from playing. However, a club can ask for a waiver to the FFP under a so-called ‘voluntary agreement’ scheme.
Milan had asked Uefa to be able to exercise its right to waive the FFP rules after Chinese entrepreneur Li Yonghong bought the club from Italian holding company ‘Fininvest.’
