Paris Saint-Germain will have "done their sums well" to ensure a potential world-record move for Neymar keeps them within financial fair play regulations, UEFA's FFP head has told L'Equipe.
Along with Manchester City, PSG were hit by sanctions in 2014 after falling foul of FFP. They were handed a €60 million fine, had their Champions League squad reduced from 25 to 21 for a season and saw their hands tied in their transfer dealings.
Now, media reports claim the Ligue 1 outfit are considering how to meet Barcelona forward Neymar's €222m buyout clause, pay his reported €30m annual wage and also squeeze within FFP boundaries.
A source close to PSG told ESPN FC last week that Neymar has told the French club he wants to move to the Parc des Princes and has agreed to terms on a contract. The source indicated that the biggest remaining question is no longer whether Neymar is willing to swap the Camp Nou for the Parc des Princes but how ownership finances what would be a world-record fee.
Andrea Traverso, who leads UEFA's FFP watchdog, says PSG will tread even more carefully as a second breach of the regulations could leave them open to a heavier punishment, including a ban from European competition.
"PSG are no longer under those restrictions, but that doesn't mean they can start to do what they want," he said. "They must respect financial fair play regulations, just like everyone else in Europe. They must show they can have losses that do not go beyond €30m over three years.
"I note the impact of any possible arrival of Neymar in Paris would have an effect that would be felt over several years. But it's very difficult to judge this kind of operation in advance. I don't know their plans.
"The transfer window is not closed. They might have planned on selling one, two, three or four players for an equivalent or bigger amount. We'll see where we stand at the end. I think they have done their sums well."
Special dispensation can be given to clubs to run up bigger losses than those laid out by UEFA, but any team that has been punished within the last three years cannot apply, ruling PSG out.
Though they have been transformed into one of European football's big clubs since the arrival of Qatar Sports Investments in 2011, PSG will not be protected by their status on the continent.
"We don't make a distinction. All clubs are treated in the same way," Traverso said. "You say PSG and Manchester City have been punished. I can tell you Inter [Milan] and Roma have been restricted too. Major clubs, in Turkey, have been punished very heavily. Small, middle-sized and big clubs are treated in the same way."
Traverso added that PSG should have learned their lesson in the last three years.
"It's been a long time since then," he said. "The rules had just been introduced. Now, everyone knows them well. I'm convinced that everything will be done within the rules. But I understand very well that some people are asking themselves questions."