May 22 – UEFA president Michel Platini insists financial fair play (FFP) is still working and “here to stay” despite the decision to tweak the project in the face of legal challenges.
The goal “remains the same,” said Platini after revealing this week that UEFA will shortly relax its break-even rules to allow for newly-ambitious clubs to challenge the established European elite.
“We have just been working on moving from a period of austerity to one where we can offer more opportunities for sustainable growth,” Platini said in an interview published by UEFA’s website.
Depending how the rules are changed, club owners should be able to spend more on player transfers and wages form this summer. But Platini pointed to a 75% cut in combined annual losses by clubs monitored by UEFA after qualifying for the Champions League and Europa League. Last season Manchester City and Paris Saint-Germain, run by Middle East backers, were each fined €20 million for violating the rules.
“In a short period of time, Financial Fair play is achieving what it set out to do: restore the financial health of European football and put clubs on a much better and more solid financial foundation,” Platini said.
There are more than 10 legal actions taking place against UEFA over FFP but Platini added: “It is entirely normal for regulations to be updated. In fact, it would be abnormal if regulations never changed.”
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