Galatasaray CEO Mustafa Cengiz will meet UEFA President Aleksander Ceferin on Thursday to discuss the revised deal agreement with the Turkish football club on its financial situation. According to the agreement, Galatasaray would limit the number of players, pay a fine to UEFA and reduce expenses in order to achieve full compliance of break even. «Istanbul Basaksehir is committed to making a total financial contribution of up to €1.5 million, which will be withheld from all revenues from participation in UEFA competitions. Of this amount, €0.3 million must be paid in full, while the balance of €1.2 million depends on the association meeting the break-even targets set out in the settlement agreement,» the statement said. According to the new agreement, Basaksehir may have in 2020 «a maximum of 10 million euros in break-even deficits [US$11.7 million]», but has promised to balance his account by the 2023-24 season. `[The Contracting Board CFCB] . today announced its decision to refer the matter to the CFCB Investigatory Chamber for further consideration. In the meantime, the settlement agreement reached on 13 June 2018 remains in force until further notice,» UEFA said on Friday. In June 2018, UEFA and Galatasaray reached an agreement following an investigation that the Turkish association had breached financial fair play rules.
The breaches were brought to light during the review of the 2017/2018 monitoring period. UEFA also said Turkish champion Medipol Basaksehir «did not meet the break even requirement», so the club signed a new deal agreement for the 2020-21, 2021-22, 2022-23 and 2023-24 seasons. UEFA has also concluded that Turkish club Besiktas has fully fulfilled the objectives of a previous deal agreement for the 2017/18 season. As part of a new agreement between UEFA and Galatasaray, the club must achieve full EVEN compliance by the 2021-2022 monitoring period, the club`s financial control body said in a statement on UEFA`s website. Fenerbahce and Trabzonspor have partially fulfilled their objectives under the corresponding agreements and transfer restrictions and restrictions on the number of players would continue to apply for the 2018/19 season. Any decision of the Chief Investigator of the CFCB to dismiss a case, to conclude or amend a settlement agreement or to apply disciplinary measures within the meaning of Article 14(1)(c) may be reviewed by the Trial Chamber, on the initiative of the President of the CFCB, within ten days from the date of transmission of the decision to the President of the CFCB. . . .