Wolves to play with depleted squad if they qualify for Champions League

London: Wolverhampton Wanderers have reached a settlement with UEFA wherein they will have to play with a depleted squad if they qualify for Europe next season for breaching the European football governing body's Financial Fair Play rules.

According to a statement by UEFA sent to British media, Wolves will play with 23 players in their European squad next season instead of 25 if they qualify for the Champions League.

"The settlement agreement covers the sporting seasons 2020-21 and 2021-22," UEFA said in the statement according to Sky Sports. "Wolverhampton Wanderers undertakes to report a maximum break-even deficit of 30 million euros in the financial year ending in 2020 and to finally reach, in the 2021-22 season, an aggregate break-even results for the financial years ending in 2019, 2020 and 2021 within the acceptable deviation.

"Wolverhampton Wanderers FC accepts that, for the season 2020-21, it may only include a maximum of 23 players in its List A for the participation in UEFA competitions, instead of the maximum of 25 players."

Additionally, Wolves will also have to accept a fine of 200,000 Euros which can increase to 400,000 Euros depending on the club's compliance with the break-even target. The restriction on the squad will continue for the 2021/22 season "unless the club fulfils all financial measures agreed with the CFCB Investigatory Chamber."

Wolves need to win the Europa League this season in order to qualify for the Champions League with Arsenal winning the FA Cup.