AC Milan will have their Europa League prize money withheld by UEFA as a punishment for breaking financial fair play rules last at the end of last season, the club’s president has confirmed.
They were initially banned from competing in Europe this season but the decision was overturned by the Court of Arbitration for Sport. Milan are still seeking an agreement with UEFA with the outcome likely to result in a fine.
The club’s president, Paolo Scaroni, has confirmed the club will not receive any prize money from the 2018/2019 European campaign.
“We are waiting for the judgement,” Scaroni said at a meeting with the club’s shareholders.
“UEFA can and will implement the suspension of prize money.
“The judges who barred us from the Europa League, pending the sentence, have temporarily suspended the revenue that would come from the Europa League.
“We cannot put tonight’s revenue on the balance sheet, because we’re still awaiting the UEFA ruling. It’s money under warranty, around €2.5 million has been withheld.”
He also said the club is prepared financially for any unavoidable punishment from UEFA.
“We’ve set aside €18m, which is a prudent allocation,” Scaroni said. “There are two areas of risk. One is UEFA.
“As you know our exclusion from the Europa League was overturned, but it’s not over. Our case has been sent back to the justice chamber, which must give us a penalty commensurate with our transgressions.
“The decision should arrive by the end of the year. We definitely won’t be cleared, because it’s difficult to make the same court which found you guilty change its mind.”