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Financial Fair Play - What's It All About?
Published : 15 Aug 2011 16:14:20Rss feed
A brief guide to Financial Fair Play Over the last few weeks, Coventry City CEO Paul Clouting and director Leonard Brody (Wherever he has disappeared to?), have been talking about Financial Fair Play, which was voted for by the chairmen and women of the 72 Football League clubs at their AGM in June. So to give you an idea as to what they are on about, the following points describe in detail the instrumental aims behind this concept which is expected to be brought in for the start of the 2012/2013 season and will also apply to clubs in European competition: • To encourage professional football clubs not to spend more than they make in income• To limit the level of debt at professional football clubs• To encourage professional football clubs to settle their debts on time• To stop excessive salary and transfer payments• To promote investment in youth development and infrastructure (training facilities and stadia)• To encourage sensible long-term financial management• To make professional football clubs more transparent for UEFA With the help of these instrumental aims the concept ultimately hopes to achieve the following fundamental objectives: • To improve the financial stability of professional football clubs• To protect professional football clubs’ creditors (e.g. players or other clubs)• To regulate the influence of external funding (from investors, lenders or benefactors) on on-field competition• To preserve the long-term viability of European club football
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