UEFA ‘set to SCRAP Financial Fair Play rules’ to allow clubs to have more control over their finances… with matter to be discussed with the European Parliament on Friday
UEFA are preparing to get rid of Financial Fair Play regulations to allow teams greater control over their finances, according to reports in Italy.
The decade-old regulations were devised by UEFA’s Financial Control Panel under Michel Platini and Gianni Infantino, and the European Club Association initially appealed against its introduction.
But now according to Italian outlet Gazzetta dello Sport, the body favour a radical overhaul including new rules which will allow clubs greater flexibility with regards to their spending power, particularly in the transfer market.
UEFA (president Aleksander Ceferin pictured) are preparing to get rid of Financial Fair Play regulations to allow teams greater control over their finances, according to reports
FFP came in around a decade ago under former general secretary Gianni Infantino
Other details regarding the rules will be discussed on Friday in a video conference call with the European Parliament.
UEFA however will still be required to consult and agree the new rules with sides given that they are said to be ‘unlikely to want to impose itself on clubs without dialogue.’
Should the various parties – including EU lawyers – agree with the new system, an adaptation period will then be set in motion, and is expected to begin gradually next year.
Full implementation of the regulations will then come into force at a later, but as yet unspecified, date.
The rules could see Premier League clubs rethink their approach to the market, with Chelsea – owned by Roman Abramovich (pictured) – having spent more than £200m last summer
The Italian outlet details the new system as one that will ‘transition from the idea of ”spending as much as you collect” to ”spending what is necessary without waste.”’
Last summer saw Premier League clubs splash the cash once again – with Chelsea spending the most of any top-flight club after an outlay of more than £200million on new recruits – and clubs may now rethink their strategies in line with the new regulations.
The regulations could also bring about the ‘introduction of a salary cap, to be disguised as a luxury tax to ensure compliance with European regulations.’
Each side would therefore have to abide by a total spending limit for the playing staff for each specific club, but it has yet to be announced how that will be calculated.
UEFA are also set to lessen sporting sanction, with Man City – owned by Sheikh Mansour bin Zayed Al Nahyan (pictured) – having successfully appealed decision to kick them out of Europe
UEFA are also reportedly considering lessening a breach of regulations with sporting sanctions with a commensurate increase in economic punishments.
Currently clubs that break FFP regulations can technically be kicked out of European competitions, as was the case with Manchester City until they successfully appealed the ruling following the Court of Arbitration for Sport’s verdict last year.
The news comes just a few weeks after UEFA announced another radical decision to expand the Champions League to 36 teams, with each club playing 10 group matches in a ‘Swiss system’ that would see them ranked in a single league table.
‘I think we’re very close to my ideal Champions League, I think the Swiss system is beautiful,’ Andrea Agnelli, chairman of the European Clubs Association, said.
City successfully appealed the ruling following Court of Arbitration for Sport’s verdict last year
‘I think it will provide great opportunities for those teams participating in that competition.
‘It will provide the knockouts that are the essence of any competition. It’s very, very close to an ideal Champions League. We’re maybe just a couple of weeks away.
‘My attention for quite a long time has been to make sure we find a solution with Uefa.
‘We had fights with Alex [Uefa’s president, Alexander Ceferin] in the autumn months because we wanted to find the balance between continental and domestic competition. It’s [about] having a balanced competitive landscape.’
News comes just weeks after Andrea Agnelli revealed plans for expanded Champions League