Malaga have released a statement today in response to being named as one of 23 clubs to have prize money withheld by UEFA.
The European governing body of the game released a list of teams that will not be paid prize money for UEFA club competition this year until they have satisfied regulations relating to Financial Fair Play.
The only Champions League club named was Malaga, who have responded this afternoon with a statement assuring that they will soon be able to come off the list.
“Further to the previous statement made by the club, a complete internal restructuring process got underway over a month ago, aiming to guarantee the future viability of the club,” began the posting on the team’s official website.
“The starting point of this process was to address the financial commitments, and find a balance between income and expenditure, in order to meet with the UEFA Fair Play requirements.
“The club is still fully immersed in this process, and has now stabilised the financial situation with other clubs, employees and players, and is in negotiations with ‘Hacienda’. Although a definitive agreement has not as yet been reached, the amount owed by the club has been significantly reduced over the last month.
“Malaga Club de Futbol has informed UEFA of this situation, and there is a transparent relationship between both organisations.
“The inclusion of Malaga Club de Futbol in the list published today by UEFA is a precautionary measure, and not a penalty, which can be lifted as soon as an agreement is reached with the ‘Agencia Tributaria’, something which the Club has been working towards for several weeks.”