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Five-time European champions Liverpool have been cleared of any breaches of financial fair play but Hull have been fined 145,000 pounds, UEFA has announced. UEFA on Friday ordered further probes into the accounts of Champions League contenders Monaco for possible overspending on player transfers and wages. UEFA said its club finance panel also wants more scrutiny of Inter Milan, Roma, Sporting Lisbon and Monaco for potentially breaking Financial Fair Play rules. UEFA investigated the clubs' accounts on their return to European club competitions this season, which is the second year of sanctions being applied. UEFA introduced the financial monitoring project in 2011 to curb overspending on players. UEFA says it also fined four clubs -- Hapoel Tel-Aviv, Hull, Panathinaikos and Ruch Chorzow -- 200,000 euros ($225,000) for excessive losses. In new cases, UEFA says it is investigating accounts of Moscow clubs Dynamo and Lokomotiv. Liverpool chief executive Ian Ayre welcomed the decision saying the financial period covered by the FFP review had been "difficult'' for the club. Ayre said: "During this review period, the Club was going through a transitional period having just emerged from a difficult financial and operational position under previous ownership. "Since FSG took over in October 2010, we have stabilised the club and made good overall progress by taking a measured approach to our financial position as we worked towards FFP compliance. We have always been supportive of the principles of FFP and welcome today's announcement." Hull City manager Steve Bruce pointed out the accounting period went back to a time when the club were losing money trying to get out of the Championship. Bruce said: "I think we all understand that the only reason is because of when we were in the Championship, and because we qualified for a UEFA tournament. "We're all becoming accustomed that FFP is out there, we've been given two or three years to make sure we're alright and after that we should be in a healthy position. "It's tough on us because the only reason we've come under investigation is a) because we've qualified for a UEFA tournament and b) because of when we were in the Championship. "It's very, very difficult."
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