UEFA has approved new financial monitoring rules for European soccer clubs. The “Financial Fair Play” system in place since 2010, and known as FFP, will be replaced in June by “Financial Sustainability” regulations.
UEFA project leader Andrea Traverso said, “Competitiveness cannot be addressed simply by financial regulations,” adding the words “fair play” had been misinterpreted to mean “we create a level playing field.”
“This is why we changed the name,” he said, describing a “huge, complex exercise to get a consensus” across European soccer for a financial review that became inevitable after the disruption caused by the COVID-19 pandemic.
The new rules were praised last week by the Spanish league for “restricting the ability of state-owned clubs to commit financial doping.”
By 2025, clubs playing in UEFA competitions will be limited by the “squad cost rule” to spending 70 per cent of their revenue on salaries and transfers or face financial and — eventually — sporting sanctions.
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