UEFA has updated its Financial Fair Play (FFP) rules in a bid to make clubs more attractive to new investors and improve competition.
FFP was introduced as a way of preventing clubs from spending beyond their means and curbing huge losses, with fines imposed on those found in breach and some clubs receiving bans from UEFA competitions.
Manchester City, Paris Saint-Germain and Inter are among those to have been sanctioned under FFP rules, but UEFA president Michel Platini stated last month that the regulations were set to be eased.
Following the opening day of its Executive Committee meeting in Prague, UEFA has now confirmed the changes, which will come into force on July 1 and allow clubs that have gone through a business restructuring or takeover more scope for investment.
“The new regulations are an expansion and a strengthening of financial fair play. The overall objectives of financial fair play remain the same,” said Platini.
“We are just evolving from a period of austerity to one where we can offer more opportunities for sustainable growth and development.”
A media release outlining the changes read: “The updated financial fair play (FFP) regulations will now address situations where clubs have undergone a recent business restructuring or takeover and occasions where clubs wish to invest sustainably within the spirit and essence of FFP.
“Under these circumstances club monitoring will increase and broaden in scope through the application of rigorous conditions.
“Furthermore, the new amendments will take into account disadvantages faced by clubs due to sudden economic shocks or severe market structural deficiencies within its operating region.”
European Club Association chairman Karl-Heinz Rummenigge believes the new rules will help strengthen clubs in the long term, while ensuring the “principle” of FFP remains intact.
“The financial fair play rules are a very important tool for clubs to control their economic situation,” he said.
“The new version of the rules is perfectly in line with the Financial Fair Play principles, develops the system further and strengthens those principles.
“Therefore, ECA calls on clubs to keep on supporting the financial fair play system and to work within the framework of the new financial fair play rules.”
Culled from Soccerway