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PSG not in the clear yet

The initial reaction to Uefa's verdict on Paris Saint-Germain's possible breach of financial fair play rules was that they had been cleared of any breach, but in fact they are not in the clear yet.

What Uefa said was: 'The CFCB Investigatory Chamber decided to close the investigation into Paris Saint-Germain. Such decision follows a detailed review of transfer contracts and an analysis of the related management accounts which confirmed that such transactions were in line with the UEFA Club Licensing & Financial Fair Play Regulations. Furthermore, the chamber concluded that after significant fair value adjustments of several club sponsorship contracts - on the basis of evaluations performed by independent third party assessors - the break-even result of the club remains within acceptable deviation for the financial years ending in 2015, 2016 and 2017. The financial impact of transfer activities as from the 2017 summer – up to and including the upcoming transfer window - and compliance with the break-even requirement for the 2018 financial year will remain under close scrutiny and will be thoroughly looked at in the coming weeks.'

It is the last sentence that is significant. The period being investigated includes the €222m Neymar transfer and the loan of Mbappé from AS Monaco.

The club has been told that it must make €60m of player sales by the end of June to satisfy FFP requirements.

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