UEFA puts new financial regulations in place
The Executive Committee announced its first major reform to the financial regulations since 2010
By Admin | about 11 months ago
The European football’s governing body believes that reform was necessary, especially in the wake of the pandemic that saw clubs endure heavy financial losses.
According to UEFA, the new regulations have been put together to “protect the game and prepare it for any potential future shocks while encouraging rational investments and building a more sustainable future for the game.”
“The regulations limit spending on wages, transfers, and agent fees to 70% of club revenue.” read the official website. “Assessments will be performed on a timely basis and breaches will result in pre-defined financial penalties and sporting measures.”
The new rules will come into effect from June 2022, and clubs will be given three years to implement them. For that period, the losses that clubs are allowed to make have been increased from €30 million to €60 million to help them gradually adapt to the new regulations.