UEFA: Galatasaray banned from European Competition for non-compliance with financial fair play

"The adjudicatory chamber of the UEFA Club Financial Control Body (CFCB) today announced that Galatasaray AŞ (Spor Toto Süper Lig) will be excluded from participating in the next UEFA club competition for which they would otherwise qualify in the next two seasons (2016-17 and 2017-18)," announced UEFA on 02/03/2016.

"This decision was taken after Galatasaray failed to comply with the terms of the settlement agreement that it entered with the CFCB Chief Investigator in May 2014," added UEFA on 02/03/2016, also stating that "the Turkish club has also been ordered to limit the overall aggregate cost of the employee benefits expenses of all its players in each of the next two reporting periods (i.e. the reporting period ending in 2016 and the reporting period ending in 2017)".

The investigatory chamber of the CFCB, chaired by former Belgian Prime Minister Yves Leterme, had referred Galatasaray to the adjudicatory chamber, on 18/01/2016, "for the necessary actions to be taken as the club has failed to comply with the break-even requirement during the monitoring period assessed in the…