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Uefa temporarily relaxes FFP rules due to Covid-19

Getty ImagesUefa’s executive committee has approved temporary changes to the European soccer governing body's financial fair play (FFP) and club licensing regulations in light of the economic challenges presented by the coronavirus pandemic. The break-even assessment of club finances for 2020 will be postponed, and looked at alongside the financial year 2021. Uefa confirms Champions League ‘final eight’ tournament in LisbonThe intention of the changes is to provide clubs with greater flexibility in order to meet transfer and salary obligations, quantify and account for unexpected losses of revenue and adjusting the break-even calculations for any shortfall in earnings reported this year or next. Uefa hopes to neutralise the impact of the pandemic by averaging the combined deficit of 2020 and 2021 and by 'further allowing specific Covid-19 adjustments'. An official statement added that the changes will address 'the actual problem' of revenue shortfall and 'not financial mismanagement'. The announcement came a day after Uefa confirmed that the culmination of this year’s Champions League, Europe's premier club competition, will be played out as an eight-team tournament in Lisbon.

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https://www.sportspromedia.com/news/uefa-ffp-rules-relaxed-covid-19

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