It has been announced today that Premier League club AFC Bournemouth have reached a settlement with the EFL of £4.75million following a breach of Financial Fair Play regulations.
The Cherries secured promotion to the Premier League in May 2015 when they won the Championship to reach the top flight for the first time in the club’s history.
— AFC Bournemouth ? (@afcbournemouth) July 5, 2018
Bournemouth were deemed to have breached the FFP rules in the 2014/15 season, recording a £38.33million loss in the process.
“In reaching a settlement, the EFL acknowledges that the Club did not make any deliberate attempt to infringe the Rules or to deceive,” the EFL said in a statement.
“All relevant matters were taken into account when determining the quantum of the settlement.”
The Cherries were hit with a £7.6m fine after accruing huge losses en route to the Premier League, but they have now settled on a lower figure.
Despite winning the Championship in 2014-15 – and enjoying the biggest pay-day in English football – the club recorded a loss of £38.3m that season.
Incredibly, losses of only £6m were allowed, with Bournemouth miles above that tally and were lucky to not be hit with a transfer embargo via the loophole – The Premier League.
Bolton, Fulham and Nottingham Forest were all hit with a transfer market ban that summer for breaking similar rules.
Take a look at how the football world reacted to news on the next page.
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