Burnley Football Club has been placed under an immediate transfer embargo by the English Football League (EFL). The Clarets revealed in a statement on Sunday that this was due to their late submission of accounts, which was a result of a change in auditors in November. Although the transfer window is not currently open, Burnley will not be able to operate in the market until the embargo is lifted. However, the club is confident that the matter with the EFL will be resolved swiftly.
The statement from Burnley read: “We would like to share with our supporters the disappointing news that the EFL are placing the club under an immediate transfer embargo. We believe transparency in these matters is paramount and we want to explain why this has happened.”
The club explained that they made the decision to change their auditors in November, and the transition took longer than anticipated. They confirmed that they have provided draft accounts and financial information to the EFL’s Club Financial Reporting Unit and are in regular dialogue with the unit to ensure they remain open and transparent and answer any questions the League may have.
Burnley believes that the EFL will have no issue with the detail of their accounts other than their late submission and fully understand and support their position and efforts to sanction any club who fails to comply with any of their regulations. The club and their new auditors are confident that the matter can be resolved swiftly, and they hope their submission will be made next month at which point the embargo will be lifted.
The statement concluded: “We once again wish to assure supporters this will have no detriment to the ongoing success and development of the club as we move forward.”
Burnley is currently managed by Manchester City legend Vincent Kompany and is top of the Championship. The club has a 13-point lead at the top of the division and is heavily favored to go on and win the title, which would secure their immediate return to the Premier League.
