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Fenerbahçe SK (TUR)
The settlement agreement covers the sporting seasons 2016/17, 2017/18, 2018/19 and 2019/20.
Fenerbahçe undertakes to reach full break-even compliance by monitoring period 2019/20 (i.e. reporting periods 2017, 2018 and 2019).
Fenerbahçe agrees to report a maximum annual break-even deficit of €30m for the financial year ending in 2016, €20m for the financial year ending in 2017 and €10m for the financial year ending in 2018.
Fenerbahçe agrees to reach a defined employee benefit expenses to revenue ratio and to limit the amortisation and impairment of the costs of acquiring players' registrations for the financial year ending in 2017 and for the financial year ending in 2018.
Fenerbahçe accepts that it will be subject to a limitation on the number of players that it may include on the A list for the purposes of participation in UEFA competitions. Specifically, for season 2016/17, the club may only register a maximum of 22 players on the A list, instead of the potential maximum of 25 as foreseen in the relevant competition regulations, and 23 players for the 2017/18 season. Such restriction will be lifted for seasons 2018/19 and 2019/20 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
Fenerbahçe accepts, for the duration of the settlement agreement, a calculated limitation on the number of new registrations it may include within its A list for the purposes of participation in UEFA competitions. This calculation is based on the club's net transfer position in each respective registration period covered by the agreement. Such restriction will be lifted for seasons 2018/19 and 2019/20 if the club fulfils the operational and financial measures agreed with the UEFA CFCB.
Fenerbahçe agrees to pay a total amount up to €7.5m, which will be withheld from any revenues it earns from participating in UEFA competitions commencing in season 2015/16. Of this amount, €2m shall be paid in full, irrespective of any early exit from the settlement regime. Payment of the remaining €5.5m is conditional and may be withheld in certain circumstances depending on the club's compliance with the operational and financial measures imposed in the settlement agreement.
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