PSG fined €10m for violating FFP rules as wage bill reaches record-breaking €730 million: Reports

Paris Saint-Germain (PSG) posted a significant loss last season after their salary expenditure skyrocketed. The French giants allocated an unprecedented €730 million euros in payroll, a figure that was 45 percent higher than the previous record held by Barcelona in 2019.

According to Mundo Deportivo, this hefty sum led to UEFA launching an investigation and subsequently fining PSG €10 million for violating economic regulations.

Now, with the 2023 deadline looming large on the horizon, PSG will need to urgently reduce costs. If they fail to do so, the French giants will face more severe penalties from Europe's highest governing body - up to a massive €65 million fine.

🚨 UEFA have announced their FFP sanctions/settlements against 8 teams, including AC Milan, Juventus, Inter and PSG.

PSG get the biggest fine of €65m, but only have to pay €10m, with €55m suspended. ⚠️⤵️

(Source: @UEFA) https://t.co/UtDOX5q8sT

According to the Football Benchmark report (via Mundo Deportivo), this expense caused by high wages is much greater than Barcelona's previous expenditure record. The Blaugrana's finances entered dire straits after it was revealed that they had allocated €541 million for payroll.

The Parisians' gigantic €730 million throws Barca's large payroll costs out of the water. Notably, the French outfit included Lionel Messi, Sergio Ramos, Gianluigi Donnarumma, and Achraf Hakimi to their books.

In 2022, their salary mass was increased significantly by renewing Kylian Mbappe's contract alongside new additions, Vitinha and Nuno Mendes.

UEFA have put Chelsea (and 18 others) on the FFP watchlist, asking for more information about the club's finances. They've fined PSG and the three biggest clubs in Italy. twitter.com/UEFA/status/15…

The last eight payroll records have seen Barcelona appear in five of them, with Real Madrid, Manchester City, and PSG also making the list. After Qatar acquired the Parisian club over 11 years ago, they remain determined to spend whatever is necessary to win the Champions League.

They have spared no expense, showcasing a clear indication that they are willing to go above and beyond for success on Europe's biggest stage. Their €730 million wage budget makes that clear.

PSG need to reduce costs and meet FFP rules

PSG will need to adhere strictly to financial fair play rules set out by UEFA, while still ensuring competitive success on both domestic and international fronts. This means they must take drastic steps such as cutting down player salaries or offloading certain individuals who are deemed surplus to requirements.

If these measures are taken later, rather than sooner, they could potentially incur anger - and further sanctions - from European football’s governing body. This will likely prove detrimental to any progress the club has made towards becoming the biggest and most successful clubs in France and Europe.

The Parisians are set to face Angers on January 11, and they will hope that their recent sanctions do not affect the team's mentality on the field. They currently sit atop Ligue 1 with a four-point gap between them and Lens in second place, and they will hope to consolidate their position with a strong win.