Floriana FC fined by UEFA for breaking solvency regulations

Maltese Premier League side Floriana FC have been fined €10,000 euros by UEFA after failing to settle a number of outstanding payments by December 31, 2022.

The Maltese Premier League club were one of 11 teams sanctioned by the European governing body of football for “failing to comply with solvency regulations for the 2022-23 season.”

The decision was made during the inaugural meeting of the Financial Control of Clubs, where UEFA assessed the club’s solvency requirements based on the new rules on Licensing and Financial Sustainability of Clubs.

UEFA has ruled that Floriana FC will be fined €10,000 for the offence and a further €10,000 should they fail to settle their dues by March 31, 2023.

A club spokesman confirmed that the Maltese Premier League club are in constant dialogue with UEFA over the matter and are working hard to ensure they settle outstanding payments by December 31, 2022, adding that most of which have already been paid.

The other European clubs that were sanctioned by UEFA were Aris Thessaloniki FC (Greece), FC Astana (Kazakhstan), FK Borac Banja Luka (Bosnia Herzegovina), CFR 1907 Cluj (Romania), Konyaspor (Turkey), FC Kyzyl-Zhar SK Petropavlosk (Kazakhstan), ŠD NK Olimpija Ljubljana (Slovenia), NK Osijek (Croatia), HNK Rijeka (Croatia) and Valmiera FC (Latvia)

In a statement, UEFA said that “this decision underscores the importance of complying with solvency regulations and ensuring financial sustainability in football.

“The measures taken against the 11 clubs serve as a reminder that financial discipline is crucial for clubs to thrive and succeed in the sport.”