Financial Fair Play Hailed A Success But More Work Needed
Tue 14th Oct 2014 | UEFA
UEFA’s Financial Fair Play regulations have received the support of key European football stakeholders during a roundtable discussion in Nyon on Monday.
The meeting, hosted by UEFA President Michel Platini, was part of a collaborative and consultative process to discuss the evolution of the regulations.
It’s believed that the financial regulation have been successful in helping clubs to live within their means, in reducing reckless spending and have been universally accepted, but UEFA reiterated that it is open for discussion for potential amendments to the rules and for them to evolve over time.
The participants restated their support for the UEFA Club Licensing and Financial Fair Play Regulations during full and frank discussions. Potential enhancements to the system were also discussed with the debate covering such diverse issues as owners' investment, club debt, ossification, the fair value of related-party transactions, differing financial and legal circumstances in different countries and the perceived advantage of clubs not in European competition the previous season.
"Today's meeting was very constructive and showed once more that the key stakeholders in Europe are keen to work together to create a healthy financial landscape for club football," UEFA President Michel Platini said.
"We have succeeded in reducing the cumulative losses of European clubs and in stabilising European football’s finances. We must now work together to ensure that clubs can grow and prosper in the future – and today’s discussions were an encouraging step in that direction."
European Club Association (ECA) chairman, Karl-Heinz Rummenigg, was in agreement stating, "Financial fair play is a bonus for club football and helps ensure the future sustainable development of the game,
"Economic rationality must be top priority. ECA strongly welcomes financial fair play and places significant trust in UEFA and its President Michel Platini."
Posted by: Aaron Gourley
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