Tuesday, January 24, 2017

Financial fair play here to stay, warns Platini

SoccerNews in General Soccer News 21 May 2015

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Michel Platini has warned European clubs they must adapt to financial fair play (FFP) as the regulations are “here to stay”.

The UEFA president introduced the measures to ensure clubs lived within their means across the continent, and those who have fallen foul of the guidelines have been punished.

Manchester City, Inter and Paris Saint-Germain have all been sanctioned in the past 12 months, with the fallen Italian giants handed a €20million fine earlier this month.

A scheduled review of FFP is set to result in changes to the regulations, but Platini insists UEFA’s objective has not changed.

“Financial fair play is here to stay,” said the former France international. “The proposed changes to the regulations will build on the successes achieved whilst adapting to changed, and improved, economic circumstances. 

“The overall objective remains the same: to provide a regulatory environment which supports clubs in creating sustainable growth for the long term, while maintaining financial stability.

“Clubs need to continue to live within their means. We have been in a long consultation process which has taken into account views from all stakeholders. 

The conclusions are that everyone wants financial fair play to stay. The objective of financial fair play remains the same, we have just been working on moving from a period of austerity to one where we can offer more opportunities for sustainable growth.

“Financial fair play has led to a dramatic improvement in club finances and has restored business credibility in our sport.

“Any updates to the regulations will be discussed at various committees before being presented to the UEFA Executive Committee for ratification at its next meeting, which takes place in Prague on 29/30 June.”

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