UEFA fines Ibrahimovic Sh7 million for links to betting company

AC Milan's Zlatan Ibrahimovic, center left, and Inter Milan's Romelu Lukaku, center right, argue during an Italian Cup round of 8 soccer match between Inter Milan and AC Milan at the San Siro stadium, in Milan, Italy, Tuesday, Jan. 26, 2021. [AP Photo/Antonio Calanni]

European soccer's ruling body UEFA fined AC Milan's Swedish striker Zlatan Ibrahimovic 50,000 euros (Sh7 million) on Wednesday for breaking the rules by having a financial interest in a betting company.

Milan were also warned and fined 25,000 euros for violating the same article of UEFA's disciplinary regulations.

"The Chairman of the UEFA Appeals Body also issued Mr. Ibrahimovic with a directive aimed at ceasing the player’s association with the relevant betting company," UEFA said in a statement.

Swedish newspaper Aftonbladet reported in April that Ibrahimovic, 39, is a part-owner of the Malta-based betting company Bethard who he teamed up with in 2018.

Zlatan Ibrahimovic attends a press conference at Friends Arena in Stockholm, Monday, March 22, 2021. Ibrahimovic has come out of international retirement at the age of 39 and is set to play for Sweden for the first time since the European Championship in 2016. [Jonas Ekstromer/TT via AP]

FIFA's Code of Ethics state a player cannot have interests in entities or companies that "promote, broker, arrange or conduct betting, gambling, lotteries or similar events or transactions connected with football matches and competitions".

Ibrahimovic last month signed a one-year contract extension with Milan.