AFC Bournemouth have had their expected fine from the English Football League reduced for breaching the EFL’s financial fair play regulations in 2015.
The Cherries were promoted to the Premier League after winning the Championship in tremendous style during the 2014/15 campaign.
Eddie Howe and Jeff Mostyn celebrate winning the Championship title with a 3-0 away victory over Charlton Atheltic.
However, it was revealed in December 2015 that AFC Bournemouth would face sanctions from the Football League for breaching their Financial Fair Play regulations.
The 2014/15 campaign was played under the previously agreed Financial Fair Play rules which were set in April 2012 and were changed by the Football League clubs in November 2014 by a unanimous vote.
The old rules allowed a ‘maximum permitted deviation of £6million’ which was ‘consisting of a maximum adjusted loss of £3m plus a further maximum of £3m of shareholder investment.’
The Football League announced that ‘Any club exceeding the maximum permitted deviation that wins promotion to the Premier League will receive a fine equivalent to:
– 1% of the excess amount between £1 and £100,000
– 20% of the excess amount between £100,001 and £500,000
– 40% of the excess amount between £500,001 and £1,000,000
– 60% of the excess amount between £1,000,001 and £5,000,000
– 80% of the excess amount between £5,000,001 and £10,000,000
– 100% of any excess over £10,000,000
Fulham and Nottingham Forest, who also broke the regulations will be subject to an ‘FFP embargo` for the remainder of the current campaign.
However bizarrely, Millwall who were relegated to League One will not be punished despite breaking the same rules.
Following that announcement, AFC Bournemouth’s accounts appeared to reveal that the Cherries paid a fine of £7.6million for breaking FFP, a figure that Sky Sports also reported.
However, it has now been confirmed by both the EFL and AFC Bournemouth that the figure that the Cherries will actually pay is £4.75million, a reduction of almost £3million.
The EFL have also stated that…
“the EFL acknowledges that the Club (AFC Bournemouth) did not make any deliberate attempt to infringe the Rules or to deceive. All relevant matters were taken into account when determining the quantum of the settlement.”
The statement also stated…
The agreed settlement of £4.75m is in full and final settlement of all and any claims by the EFL against the Club and its officers, in respect of the FFP Regulations for Season 2014/15.
Your say…
SlowDownDerek wrote…
This is terrible PR management of the story. It was done and dusted and now they’ve apparently decided that the original crime wasn’t as bad as first thought – yet here we are with the lead story on multiple formats about AFCB illegally bankrolling their way to the top. It could have been released as “AFCB fine reduced” or released the day after England played but instead they’ve allowed it to come across as a fresh crime – fuelling the narrative of our dishonest rise to the top. Schoolboy PR. – Join the conversation, click here.
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