Financial Fair Play: AC Milan referred to the Adjudicatory Chamber of the Financial Control Body

"The Investigatory Chamber of the UEFA Club Financial Control Body (CFCB) has decided to refer Italian club AC Milan (Serie A TIM) to the Adjudicatory Chamber of the CFCB for breach of the Financial Fair Play regulations, in particular the break-even requirement," announced UEFA on 22/05/2018.

"After careful examination of all the documentation and explanations provided by the club, the CFCB Investigatory Chamber considers that the circumstances of the case do not allow the conclusion of a settlement agreement. In particular, the CFCB Investigatory Chamber is of the opinion that, among other factors, there remains uncertainties in relation to the refinancing of the loan and the notes to be paid back in October 2018," added UEFA.

"The Adjudicatory Chamber will make a decision on this case in due course (decision expected in June 2018). The CFCB Investigatory Chamber will further communicate in June its other decisions in relation to the monitoring of the clubs under investigation or under settlement agreement," said UEFA. Among the possible sanctions (read below), includes AC…