Man United was fined by UEFA after being penalized for Financial Fair Play violations.
Manchester United has found themselves in serious water with UEFA after being found guilty of violating the governing body's tough Financial Fair Play regulations.
UEFA punished Manchester United €300,00 (£256,785) for violating FFP guidelines.
"During the 2022/23 season, the CFCB First Chamber, chaired by Sunil Gulati, concluded the assessment of the break-even requirement covering the fiscal years 2019, 2020, 2021, and 2022," UEFA said in a statement.
"This is the last time the CFCB assessed clubs on the basis of the "old" Club Licensing and Financial Fair Play (FFP) regulations, Edition 2018." Minor break-even deficits were reported by Manchester United FC (ENG), Konyaspor (TUR), and APOEL FC (CYP). These clubs were fined €300,000, €100,000, and €100,000, respectively."
The sanction comes as Red Devils manager Erik ten Hag is given a limited budget for the summer transfer window. The decreased budget is the result of club executives seeking to adhere to FFP requirements.
Last month, United reported strong financial results, with sales increasing 11% to £170 million for the three months ended March 31. The research also predicted that full-year revenue would reach a record £630m to £640m.
The club is presently up for sale, with Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani vying to buy out the Glazers.
United has argued that the fine is for historical breaches and earlier FFP guidelines. The Red Devils stated in a statement that transfers this summer will have no effect on the budget.
"While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules," continued the statement.
"This reflected a change in how UEFA adjusted for COVID-19 losses during the 2022 reporting period, allowing us to recognize only €15 million of the €281 million in revenues lost due to the pandemic within the FFP calculation."
"Since the pandemic, the clubs' revenues have rebounded strongly and are expected to reach a new high in the current fiscal year."
"The club continues to support the enforcement of rules in order to promote financial fair play and sustainability across domestic and European football."
Barcelona was fined €500,000 for incorrectly declaring gains on disposal of intangible assets (other than player transfers), which are not considered relevant income under the laws.
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