English team Wolverhampton wanderers which was fined for breaching the financial fair play rules has come to a settlement agreement and for the sporting season of 2020-21 and 2021-22 with a fine of €200,000 which could rise up to €600,000 if the club does not get its finances in order by the end of 2021 season.
The team is however also required to register only 23 players instead of 25 if they qualify for champions league next season.
The financial fair play regulations which was introduced in 2010-11 is aimed at preventing professional football clubs from making huge losses at the long run of their football financial career.
Professional clubs like PSG and Manchester city has also been fined in time passed for breaching same requirements.
Here are the statements from the Governing body of the UEFA financial fair play regulations against Wolverhampton wanderers :
"The settlement agreement covers the sporting seasons 2020/21 and 2021/22.
"Wolverhampton Wanderers FC undertakes to report a maximum break-even deficit of €30 million in the financial year ending in 2020 and to finally reach, in the 2021/22 season, an aggregate break-even result for the financial years ending in 2019, 2020 and 2021 within the acceptable deviation.
"Wolverhampton Wanderers FC agrees that, for the financial year ending in 2020, its employee benefits expenses are restricted.
"Wolverhampton Wanderers FC agrees to pay a total financial contribution up to €0.6 million, which will be withheld from any revenues it earns from participating in UEFA competitions.
"Of this amount, €0.2 million shall be paid in full while the remaining balance of €0.4 million is conditional depending on the club compliance with the break-even target stated in the settlement agreement.
"Wolverhampton Wanderers FC accepts that, for the season 2020/21, it may only include a maximum of 23 players in its List A for the participation in UEFA competitions, instead of the maximum of 25 players as foreseen in the relevant competition regulations.
"Such restriction will continue to apply for the season 2021/22 unless the club fulfils all financial measures agreed with the CFCB Investigatory Chamber."
The chances of wolves playing European football next season remains uncertain as their 7th league position spot for playing Europa has been taken by Arsenal for winning the FA cup finals against Chelsea Fc last week.
The only chance left is if they win the Europe league finals to qualify for champions league next season.