As reported, football clubs have settled part of their debts in the form of installments as agreed, and the Tax Department issued the necessary certification required by the Cyprus Football Association (CFA) for the criteria.

This was the concern for many clubs that owe the state more than 36 million euros.

However, the problem does not end here for the teams, as they must comply with the agreements. If they fail to make their payments, they will not only fail to meet the criteria, but the state is also determined to proceed with point deductions or even exclude them from European competitions.

It is worth reminding that football clubs had been warned twice previously to settle their debts.

According to the Plan, the teams must pay installments to fully repay their debts within a 15-year timeframe, provided they pay their current tax obligations.

Specifically, the Cabinet decided on 18/05/2023 to amend the Plan initially decided by the Anastasiades government, requiring strict compliance with the new terms. It warned that if these are not met, not only will these pending issues reach the courts, but there will also be serious consequences for the teams themselves.

More specifically, under the new terms, clubs must:

• Make the designated monthly installment payment by 31/07/2023,

• Pay current debts arising after 1/04/2023, and

• Submit all required tax returns.