FILE PHOTO: Soccer Football - Friendly - Joan Gamper Trophy - FC Barcelona v Tottenham Hotspur - Estadi Olimpic Lluis Companys, Barcelona, Spain - August 8, 2023 FC Barcelona flags are waved before the match REUTERS/Nacho Doce/File Photo
(Reuters) - Barcelona's appeal against a 500,000 euros ($543,150.00) fine by UEFA for breaches of Financial Fair Play regulations has been dismissed, the Court of Arbitration for Sport said on Friday.
Barca went to sport's highest court in January to contest the decision made by European soccer governing body UEFA's Club Financial Control Body last year to reject an earlier appeal.
The Catalan club was fined by UEFA for wrongly reporting profits on disposal of intangible assets in 2022.
The CAS panel noted that both parties presented extensive arguments regarding the proportionality of the fine.
The panel found it unnecessary to address every claim made, saying, "in the specific circumstances of this case, a fine of 500,000 euros is actually rather mild."
It added that a lower fine "would likely not be a sufficiently strong deterrent to prevent a major club like FC Barcelona from intentionally misreporting income with a major impact on its break-even results."
($1 = 0.9206 euros)
(Reporting by Shifa Jahan in Bengaluru; Editing by Ken Ferris)
