Kieran Maguire: Arsenal have 'no excuses' as £23m FFP fine confirmed
Uefa are sending out a message that clubs cannot use the pandemic as an excuse for excessive financial losses- but Arsenal will not be worried about their Financial Fai Play status.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about European football’s governing body’s latest round of FFP fines.
The Guardian reported last Friday (2 September), that eight big-name clubs have been hit with fines totalling £149million, of which £22.6m must be paid in full.
The rest of the penalty is contingent on the clubs’ future conduct, meaning the guilty parties are likely to avoid paying the whole amount.
Paris Saint-Germain, Juventus, AC Milan and Inter Milan are among the sides to have been fined by Uefa.
Arsenal meanwhile were placed on Uefa’s FFP watchlist in August.
Click below for exclusive transfer news
But Maguire explains that the Gunners will not be overly concerned by Uefa’s show of strength when it comes to FFP.
“What we have seen from Uefa is a form of glorified finger wagging,” he told Football Insider’s Adam Williams.
“The fines might initially look high, but when you do a deep dive, you see that 90 per cent of those fines have been put on the tick in the sense that they will only be paid if the clubs continue to misbehave.
“As far as the watchilist is concerned, Uefa are trying to send out a signal that you can’t used Covid as an excuse for profligacy in terms of the amount of money that is spent and not covered by income.
“Clubs are aware that they are being monitored and that’s about as far is goes. Arsenal can feel relatively secure. We have seen this as far the summer spending goes.
“If they make decent progerss in Europe and the Premier League then they have nothing to worry about.“