Turkish Side Galatasaray Gets One-Year Ban From European Competition

UEFA on Wednesday said that Turkish side Galatasaray has been "banned from European competition for one year over the club's failure to meet Financial Fair Play regulations designed to limit losses," according to Ece Toksabay of REUTERS. Galatasaray's chair last month said that the club lost about €164M ($177.79M) over the last three seasons, "overshooting guidelines" set by UEFA. UEFA said in January that Galatasaray had "failed to comply with its rules governing the permitted level of financial losses, paving the way for a potential ban." Under FFP rules, clubs that take part in European competition are "not allowed to spend more than their generated income." Galatasaray was expecting a two-year ban, but UEFA said that the "suspension would only be extended into a second year" if the club loses more than €10M ($11M) this season (REUTERS, 3/2).