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Gwangju FC apologizes for transfer slip-up ahead of disciplinary decision

Published: 29 May. 2025, 16:36

Gwangju FC huddle before the K League 1 match against Gangwon FC at Gwangju World Cup Stadium in Gwangju on May 25. [YONHAP]

Gwangju FC apologized on Thursday for violating the K League’s financial soundness regulations, as the K League 1 club faces possible disciplinary action that could include fines, a transfer ban or even relegation.

“We deeply regret our failure to comply with the financial soundness regulations, and sincerely apologize to our fans and all stakeholders who love football,” the club said in a statement on their official social media accounts. "We recorded a net loss of about 2.3 billion won ($1.6 million) last year. Our expenses increased due to squad expansion and rising payroll costs following our qualification for the AFC Champions League Elite, but our revenue failed to keep pace.

"Although our income from city subsidies, ticket sales, merchandise and transfer fees increased from approximately 15 billion won in 2023 to 21.4 billion won in 2024, we still failed to comply with the financial soundness regulations."

The K League’s finance committee suggested that Gwangju be referred to the league’s disciplinary committee for failing to meet its break-even threshold after reviewing income and expenditure data from all 26 K League 1 and 2 clubs on Tuesday.

The league’s legal department is currently deliberating whether to proceed with the referral.

If Gwangju goes before the disciplinary committee for its breach, the club could face sanctions such as a fine, transfer ban, points deduction or relegation to the K League 2 in the worst case scenario.

This is not the first time Gwangju has faced a financial controversy.

The club has also faced criticism for poor management after failing to pay $3,000 in solidarity contributions related to the 2023 transfer of forward Jasir Asani, which led to disciplinary action from FIFA.

The fee, meant to be distributed to the player’s youth clubs, was not transferred on time due to a clerical error by a Gwangju employee, who went on leave without completing the handover process.

FIFA imposed a player registration ban on Gwangju in December 2023, but the decision only came to light earlier this month.

Gwangju nevertheless signed more than 10 players during the winter transfer window ahead of the 2025 K League 1 season and has continued the campaign with the new signees.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY PARK RIN [[email protected]]