Wednesday 24 March 2021
European reports said today, Wednesday, that the European Football Association (UEFA) is considering abolishing the FFP system and replacing it with new rules governing the clubs’ finances.
According to the Italian newspaper “La Gazzetta dello Sport”, the new system will provide clubs with more freedom in determining their purchasing power and the volume of spending.
Many clubs have suffered from this system during the past years, the last of which is Chelsea and Manchester City, where the latter was on the verge of being banned from participating in European championships for two seasons after being accused of violating FFP rules, before he was acquitted by the Sports Court (CAS).
What are the rules of fair financial play?
The law’s inception was when the European Game Union agreed to adopt the Financial Fair Play Act in 2010 and it began to be formally enforced in 2011.
Since that time, European clubs – participating in continental tournaments – have worked to achieve a balance between expenses and profits, provided that the clubs are monitored and how to pay dues and make profits without evading taxes.
According to the law, a grace period of (3 years) is granted to cover this amount, while the promotion and investment in the stadium and training grounds, in addition to age group development programs, are not included in the fair financial play calculations, provided that the value of the debts is determined according to each league and according to each A club and its financial strength in the market.