UEFA’s executive committee has approved new “sustainability regulations” to replace the previous Financial Fair Play system, president Aleksander Ceferin said on Thursday.
A new ‘strip cost rule’ will limit spending on wages, transfers and agent fees to 70% of a club’s revenue – with that figure reached after three years of gradual change .
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“Uefa’s first financial regulations, introduced in 2010, served its primary purpose,” Ceferin said at the Executive Committee meeting in Nyon.
“They have helped pull European football finance back to the brink and revolutionized the way European football clubs operate.
“However, the evolution of the football industry, coupled with the inevitable financial impacts of the pandemic, have highlighted the need for wholesale reform and new regulations on financial sustainability. main.”
UEFA added that the acceptable loss would double from 30 million euros ($32.74 million) over three years to 60 million euros in the same period.
In response to this announcement, Ivan Gazidis, CEO of AC MilanThe new rules represent a significant evolution of the previous Financial Fair Play structure.
“It is clear that creating a financially sustainable model for European football remains an extremely important goal and we hope that, after the transition from the previous system, the New rules will be vigorously enforced to ensure that they can help propel us towards this ambition.”
Milan were one of the original clubs to sign up for the rebellious European Super League last year.
“The failure of the Super League has proven that the only way to do this successfully is to create an open and constructive environment based on transparency, dialogue and trust,” added Gazidis. “We have had active and extensive discussions with UEFA regarding the future development of the game and look forward to continuing to develop our strong relationship with UEFA’s leadership in the future. .”
The new rules will come into effect in June 2022, being implemented gradually over three years to give clubs time to adapt.
