SINGAPORE: Monday may have seen the most significant football result of the season but while Union of European Football Associations’ Financial Fair Play rules may have suffered a clear defeat, the current coronavirus crisis shows that some form of financial regulation in football is necessary.
Limits were put on losses, monitored over a three year period, and it was all designed, according to the organisation, to instill financial responsibility. City weren’t the only team taken to task that year as six other European clubs were also brought to task by UEFA. For instance, French club Paris St Germain, taken over by Qatar Sports Investments in 2011, were fined US$95 million in the same year under the FFP for recording significant losses as well.Supporters of these big-spending clubs have claimed that the rules were set up to safeguard the traditional elite of European football.
Upon receiving the two-year ban, City were resolved to fight and the club assembled an expensive team of lawyers to mount a case and argue it at CAS. It seemed to work although the exact details of City’s legal defence are unknown yet. Thanks to the influence of FFP, European football clubs are, overall, in a much healthier state to deal with the effects of coronavirus than they could have been.
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Source: The Straits Times - 🏆 8. / 63 Read more »