02 September, 2017
Paris Saint-Germain are "very confident" they will be able to comply fully with UEFA's Financial Fair Play rules after European football's governing body announced a formal investigation into the Ligue 1 club.
Paris Saint-Germain clinched a sensational deal to pry wonderkid Kylian Mbappe away from Monaco on Thursday (Friday in Manila) in a move scheduled to become the second most expensive transfer in history.
The 18-year-old superstar finally put an end to speculation over his future by sealing a loan move to the French giants, with a view to a staggering £165m permanent deal next summer.
As a result of that deal, they could not also afford to sign Mbappe and stay within UEFA's Financial Fair Play (FFP) regulations, hence the move is simply a loan to begin with.
Paris Saint-Germain have issued a statement in response to an UEFA investigation surrounding their summer transfer activity.
"In the coming months, the Investigatory Chamber of the UEFA Club Financial Control Body will regularly meet in order to carefully evaluate all documentation pertaining to this case", the statement added.
UEFA considers Fair Play Financial as a fundamental system to ensure the financial sustainability of European football.
Friday's announcement from European football's governing body said it would look at whether PSG had violated the regulations, which are created to prevent football clubs spending more than they earn.
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Despite a massive outlay on players, PSG has failed to get past the quarterfinals of the Champions League in the past four seasons, and only once made the semifinals back in 1995.
"I was attracted by the club's project, it's one of the most ambitious in Europe", Mbappe said.
PSG's stunning 222 million euros capture of Neymar from Barcelona earlier this month has sent transfer fees skyrocketing across the continent.
Introduced in 2010 with the aim of preventing clubs involved in their European competitions from spending more than they earn, PSG have responded to the investigation by insisting their accounts as of 30 June 2018 for the 2017/2018 season are in line with the criteria.
"Among players of his age, he is without doubt the most promising in the world due to his vast technical, physical and mental qualities", PSG president Nasser Al-Khelaifi said.
PSG have already smashed the world transfer record this summer, having acquired Neymar from Barcelona for €222m.
PSG have been sanctioned for breaking FFP regulations previously in 2014 after it was found that a sponsorship deal with Qatar was of insufficient value, per CNN.