UEFA’s Club Financial Control Body has fined Manchester United €300,000 (£256,744) for a “minor breakeven deficit” following the 2022/23 season.
The CFCB found United did not meet its target to approach breakeven on football-related business, including player transfers, wages and social taxes.
A United statement read: “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.
“This reflected a change in the way that UEFA adjusted for Covid-19 losses during the 2022 reporting period, which allowed us to recognise only €15m (£12.8m) of the €281m (£240.5m) of revenues lost due to the pandemic within the FFP calculation.
“Post-pandemic, the clubs’ revenues have recovered strongly and are forecast to reach a record level in the current financial year.
“The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”
United are understood to be disappointed with what they see as UEFA’s lack of flexibility over accounting for losses during Covid-impacted seasons but accept they did commit the breach.
It is also understood that the situation will have no impact on the club’s ability to add to Erik ten Hag’s squad during the summer transfer window.
United’s only signing this summer has been Mason Mount, who arrived from Chelsea for £60m.
Barcelona were also punished by the CFCB for wrongly reporting profits from “disposal of intangible assets” that should not have been accounted for as income according to FFP rules, and were handed a €500,000 (£427,840) fine.
AC Milan, Roma, Inter Milan and Paris Saint-Germain will also continue to be monitored by the CFCB as part of their settlement regime, although all four of those clubs fulfilled their targets for the financial year 2022.
UEFA has updated the FFP rules that were approved in 2009 with a new monitoring system that prioritises financial sustainability for clubs and has moved away from setting competitive balance on the field as an achievable target.