@MTVilla1983@KevHughesie Under UEFA Annex J.9 & International Accounting Standard 38 (IAS 38, Paragraphs 45โ47) when two clubs complete transfers between each other in the same period, the regulatory default is to treat them as a connected exchange transaction unless the club proves otherwise.
@MTVilla1983@KevHughesie To successfully "prove otherwise" to UEFAโs Financial Control Body (CFCB) and independent financial auditors, a club must demonstrate that the deals satisfy the Commercial Substance Test.