UEFA rejected Milan's proposal to resolve claims related to the violation of the rules of financial fair play.

The Investigative Chamber of the UEFA Financial Control Authority (IFCK) decided to send the case of Milan to the IFCC Arbitration Chamber in connection with violation of the rules of financial fair play. In particular, this concerns the break-even policy.

Having carefully studied all the documents and explanations provided by the Italian club, the Preliminary Investigation Chamber considered that the circumstances of the case do not allow reaching an agreement on settlement of claims.

In particular, the Investigation Chamber believes that, among other factors, there is uncertainty about the refinancing of loans and bills to be repaid in October 2018. This raises serious doubts about the reliability of the club's long-term business plans.

This means that now Milan is threatened with a transfer ban, a serious fine and even an exception from the League of Europe.

By the end of June, the IFCK Arbitration Chamber will rule on the case.

Recall that in December the Investigative Chamber of the UEFA Institution for the financial control of clubs refused to enter into a voluntary agreement with Milan.

The Investigative Chamber doubts that by October 2018, Milan will be able to repay a loan of 380 million euros (including interest), which was issued by the American hedge fund Elliott Management.

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