UEFA have temporarily freeze Fenerbahçe’s income from European footballing competitions following an investigation into the finances of the Turkish Super League club.
The European football governing body is investigating the whether the club is in line with the Financial Fair Play rules currently in place.
Fenerbahçe confirmed news of the investigation and that their funds have been frozen in a statement released on their official website.
Fellow Istanbul giants Galatasaray and Beşiktaş are also being monitored by UEFA but have not have their funds from European competitions frozen.
The Yellow Canaries embarked on a bold transfer policy bringing in several new players including former Manchester United duo Luis Nani and Robin van Persie.
Fenerbahçe president Aziz Yıldırım as well as several high-profile suspects including Olgun Peker, Şekip Mosturoğlu, Cemil Turan, İlhan Ekşioğlu, Mecnun Odyakmaz, Bülent Uygun, İbrahim Akın, Ümit Karan and Gökçek Vederson have been acquitted of all charges in the match-fixing case.
The Yellow Canaries missed two years of European football as a result and suffered damage to reputation resulting in significant financial losses which the club will ask compensation for if charges are dropped a source close to the club told Turkish-football.com.