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UEFA plans to rewrite existing Financial Fair Play rules for clubs that have been in place during the last decade.
European soccer’s governing body spent more than a year crafting the new regulations with a representative group for elite clubs, according to the New York Times. Talks accelerated after teams saw $7.7 billion collectively removed from their balance sheets during the pandemic.
UEFA’s proposed regulations continue its effort to promote fair competition in European soccer.
- Spending on operations will no longer be allowed to exceed 70% of a club’s income.
- Clubs have a three-year grace period before having to implement the new rules.
- The regulations are not expected to include a hard salary cap.
- UEFA executive members are scheduled to vote on the new regulations on April 7.
UEFA’s existing regulations have been met with criticism from fans and clubs for their inability to alleviate financial inequality in European soccer. Criticism intensified in 2020 after UEFA overturned Manchester City’s two-year ban from the Champions League for breaching FFP rules.
Taking a Stand
In February, UEFA and FIFA banned all Russian soccer teams indefinitely — both club and national — following the country’s invasion of Ukraine. Earlier this month, the Court of Arbitration for Sport upheld UEFA’s ban on all Russian teams after an appeal from the Russian soccer federation. Last week, CAS also upheld FIFA’s ban in a separate appeal.
