UEFA dishes out first wave of FFP punishment

UEFA withholds prize money of 23 European clubs as it demonstrates it means business with regards to policing its Financial Fair Play (FFP) Rules. Alex Miller reports.

Despite a wave of extravagant transfer spending, Premier League champions Manchester City and Champions League holders Chelsea maintain they intend to abide by FFP rules - but the duo remain the most serious doubts in British football over their ability to meet their financial obligations, as UEFA revealed its first wave of club punishments for clubs with overdue payables.

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Comments

It's pretty obvious that the    2 thanks

Midlands Accountancy | | Permalink

It's pretty obvious that the profitable clubs will be in favour, and those who rely on "sugar daddies" to bankroll them like City and Chelsea wont.

What is wrong is that a team like United will get away under these rules despite being massively in debt.

I also wonder how the smaller clubs will manage as these rules would appear to make it even more difficult for them to attract better quality (and therefore more expensive) players.

 

carnmores's picture

wrong wrong and correct IMO

carnmores | | Permalink

the  chelseas and the like will have no trouble complying, mainly thro debt equity swaps or some arcane financial instruements - see comment in ain text about overdue payables, debts to other clubs and taxation etc - there is no evidence that CFC & MCFC have breached those criteria

united has serviced its debt unlike the above category - any club that can service can borrow (tho caveat below) football is big business now

parachute payments  on relegation from PL to Championship should be abolished or restricted (possibly to stop relegated teams buying better and more expensive players giving them an advantage in the promotion battle