PSG was sentenced to a heavy fine by the Directorate General for Competition, Consumer Affairs and Fraud Control, on February 22, 2021. -

FRANCK FIFE / AFP

The PSG was sentenced to a fine of 700,000 euros "for delays in the payment of invoices from its suppliers," the Directorate General for Competition, Consumption and Fraud Control (DGCCRF) said on Monday.

It specifies on its website that this fine "relates to breaches committed during a period prior to the health emergency following the Covid-19 epidemic".

Contacted by AFP, PSG explained that it had appealed against this decision, but that this approach was not suspensive.

"These are late payments dating back to the 2017-2018 season and dating from the period from January to June 2018," said the club.

The amount of the penalty imposed on the Parisian football club is among the heaviest awarded for late payments by the DGCCRF.

204 million euros in losses for the current season,

Since the Transparency Law of 2016, the ceiling for fines for late payment has been raised from 375,000 to 2 million euros.

Only four fines imposed in this regard in 2020 were for an amount greater than 700,000 euros.

The non-respect of payment deadlines was responsible before the health crisis of one in four SME bankruptcies in France, according to the national inter-company mediator Pierre Pelouzet, cited in a report from the Terra Nova think tank at the end of 2019.

With a budget of around 600 million euros, PSG, after its stint in December before the DNCG, expects losses of 204 million euros for the current season, greatly impacted by the closed health conditions imposed by the pandemic and by the failure of the broadcaster Mediapro, which reduced the amount of television rights by half.

In 2019-2020, a season truncated by the coronavirus, the losses amounted to 124 million euros.

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