Lausanne (AFP)

Pinned for non-compliance with financial fair play, the Lille club signed a settlement agreement with UEFA which provides that EUR 9 million will be withdrawn from its possible income from European competitions, the European body announced on Friday.

Along with several other clubs involved in European competition, including FC Porto or Wolverhampton (ENG), LOSC signed a settlement agreement in which it undertakes to reduce its deficit and return to balance at the end of the 2023-2024 season, UEFA said in a statement.

Before that, the club will have to reach a maximum deficit of EUR 20m at the end of the 2021 season and of EUR 10m at the end of 2022.

The settlement agreement also provides that a total of EUR 9 million will be withheld from the possible European income of the northern club, qualified this season for the group stage of the Europa League.

In addition, from this season, Lille will only be able to field 22 players (against 25 normally authorized) on the list of players qualified for C3. This list will increase to 23 players the following season.

The sanctions "will continue to apply for the seasons 2022-2023 and 2023-2024 unless the club respects the measures accepted" with the financial policeman of UEFA.

In the event of non-compliance with the terms of the agreement, the club's file may be sent to the adjudicatory chamber of the Club Financial Control Authority (ICFC) which has the power to sanction clubs.

Since the establishment of financial fair play, the financial policeman has concluded many settlement agreements with clubs, which have not always respected them.

Olympique de Marseille had thus concluded such an agreement but was sanctioned last June with a fine of EUR 3 million for not having fully respected it, while in theory it risked exclusion from European competitions.

The OM file was transmitted last March to the CFCB adjudicatory chamber, because the OM had exceeded its negotiated deficit: the losses were not to exceed 50 M EUR in June 2019, they were 91 M EUR.

Financial fair play (FPF) prohibits a club engaged in European competition from spending more than what it earns and tightly controls capital injections from owners.

© 2020 AFP