Since 2018, the City Group has owned 47 percent of the shares of Girona, which enjoyed a historic season in La Liga, qualified for the prestigious European competition for the first time, and competed with Real Madrid, the champion for a long time.
The UEFA Club Financial Supervision Authority sent a letter on Tuesday to shareholders informing them of updates to multi-club ownership laws related to participation in continental competitions.
Laws prevent two clubs with one owner from participating in the same European competition.
The Financial Supervision Authority’s letter indicated that if a party owns “30 percent or more of the total shares, owners or members entitled to vote or holders of economic rights,” it has “the ability to exercise a decisive influence in the club’s decision-making.”
The City Group will have to give up some of its shares in Girona by the deadline set by UEFA on June 3, in order to allow the Catalan team to participate in the Champions League alongside Manchester City, the Premier League leader.
If the group, which was founded in 2013, does not comply with the new laws, Girona, third in the Spanish League, will be forced to participate in the European League competition, “Europa League.”