The Arbitration Chamber of the UEFA Club Financial Control Body (CFCB) has imposed a fine on FC Arsenal Kyiv of EUR 75,000 for its considerable debts, which the club supposed to have repaid by March 31, 2013.

"Investigation showed that FC Rapid Bucharest (Romania) and FC Arsenal Kyiv (Ukraine) failed to fulfill the conditions set by UEFA CFCB. All of the sanctions indicated in the decision will be imposed on these clubs in full," UEFA reported on its official Web site.

Rapid was fined for EUR 100,000 and was banned from participating in the next two UEFA tournaments in which the team could perform in the next three seasons (2013-2016).

As reported, on May 18, MP (Regions Party) Oleksandr Onyschenko has officially become the owner of FC Arsenal Kyiv.

On April 25 it was reported that Onyschenko had paid off all of the debts of FC Arsenal.

"All of the debts at Arsenal Kyiv for transfers, salaries to players and other employees, as well as taxes, were paid off as of April 25, 2013. Oleksandr Onyschenko, as he promised, fulfilled all obligations to UEFA and FFU in time, which automatically allows Arsenal to qualify for participation in the competitions of the 2013-2014 season," the press service told Interfax-Ukraine.

As reported, on February 15, 2013 it was announced that Arsenal Kyiv would be passed to MP Onyschenko with wage arrears of $5.5 million as of January 1, 2013, plus UAH 330 million more in debts.