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UEFA temporarily attenuates financial fair play rules.
UEFA temporarily attenuates financial fair play rules.
UEFA’s Executive Committee has announced a set of temporary emergency measures as an addendum to club Licensing and Financial Fair Play regulations of clubs. The Covid-19 pandemic hit hard on the finances of clubs because many of them could not meet their financial expectations.
The measures taken were agreed upon and unanimously supported by football stakeholders within the UEFA Emergency Working Group on Legal, Regulatory and Financial Matters which is made up of the UEFA, the ECA, European Leagues and FIFPRO Europe.
One of the key recommendations taken is that of postponement of the assessment of the financial year 2020 to 2021 and both will be done in the financial year of 2021. Looking at the shortfall of revenue in clubs as a result of Covid-19 and not financial mismanagement, is another recommendation. English Premier League Manchester City was banned from participating in UEFA competitions for two seasons. The Citizens were accused of flouting UEFA Financial FairPlay regulations.
The 2022 Qatar World Cup qualifying procedure was also approved pending final confirmation from the World Football governing body (FIFA). The European Qualifiers will see ten groups, five groups of six teams and five groups of five who will compete in home and away matches. Leaders of the ten groups at the end of matches will directly qualify for the World Football jamboree, while runners up will take part in play–offs joined by two teams from UEFA Nations League. The play-offs will determine the last three teams to qualify for the World Cup.
Culled from Cameroon Insider.