NYON, Switzerland (AP) - UEFA has ordered Porto to pay a fine of 700,000 euros ($784,000) for overspending and has set the Portuguese club targets to limit spending on player wages and transfers for the next two seasons.
European soccer’s governing body said Friday that Porto was the only club that failed to comply with the requirement to break even on its spending and trading as part of ’Financial Fair Play’ rules.
Under the terms of a settlement that covers the next four seasons, Porto has agreed to be deducted 700,000 euros of its Champions League prize money. A further 1.5 million euro fine will be imposed if Porto exceeds its spending limits.
Porto can register only 22 senior players instead of 25 for next season’s Champions League group stage, and 23 players for European competition in 2018-19.
UEFA also limited the new signings Porto can include in its European competition squads over the next two seasons.
Porto says it will break even by 2020-21.
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