UEFA explores financial rule changes due to pandemic impact

UEFA is exploring changes to Financial Fair Play rules as clubs grapple with the sudden loss in revenue caused by the coronavirus pandemic abruptly halting competitions across Europe. The cost-control regulations were introduced a decade ago But the break-even rules, which force clubs playing in the Champions League and Europa League to spend only what they earn, restrict wealthy owners from pumping money into clubs to spend on transfer fees and player salaries. Now such injections of cash from investors could be necessary to maintain the financial health of clubs. Some clubs, including 2019 Champions League finalist Tottenham, are benefiting from tax payer aid with some non-playing staff furloughed using a British government scheme that pays wages. UEFA, while trying to figure out when the season can resume, is assessing the rule changes needed as the pandemic causes financial tremors across the European game. “A working group has been set up to look at how club licensing/FFP might need to adapt to take account of the extraordinary challenges that clubs face, as a result of the COVID-19 crisis,” UEFA told The Associated Press on Tuesday. “The situation is evolving fast and the working group is continuously monitoring the situation with… Read full this story

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