Pablo ZZZ Peroni
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- 19 May 2014
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Re: City & FFP (continued)
Soriano pushing for an extension of the monitoring period from 3 to 7 years.
Article from the Telegraph:
The likes of Roman Abramovich and Sheik Mansour could be given more leeway to spend big under Uefa’s Financial Fair Play regulations after Manchester City lobbied for rule changes that would allow billionaire benefactors extra time to balance a club’s books. European football’s governing body is to consider proposals put forward by City and Paris Saint-Germain during what it revealed was a “full and frank” meeting to discuss the future of FFP on Monday, the first since both teams were fined a world-record £49 million for failing its break-even test.
City’s chief executive, Ferran Soriano, was among those to argue that Uefa’s current three-year monitoring period should be extended by up to seven years to allow clubs to live the same rags-to-riches dream pursued by his side and Chelsea. One of the major criticisms of FFP is that it may make it much more difficult for new teams to break into the elite of European football.
Yet, any extension of the monitoring period would have to be weighed against the risk that those without sufficient resources may resume the “reckless spending and financial insanity” that prompted Uefa to devise FFP in the first place. Its president, Michel Platini, is understood to be open to exploring the matter as part of a planned evolution of the regulations from a cost-control measure towards a system that encourages growth.
Any immediate amendments were ruled out during Monday’s meeting of Uefa’s stakeholders, as was the introduction of debt-reduction into the FFP rules, something that would have brought Manchester United under greater scrutiny.
Platini said: “We have succeeded in reducing the cumulative losses of European clubs and in stabilising European football’s finances.
“We must now work together to ensure that clubs can grow and prosper in the future – and today’s discussions were an encouraging step in that direction.”
Monday's meeting was attended by representatives of the Football Association, European Club Association, European Professional Football Leagues, FIFPro, the German Football League – as well as executives from Real Madrid, Bayern Munich, AC Milan, Juventus, Ajax, Lyon, Zenit St Petersburg and Olympiakos.
The chairman of the ECA and Bayern, Karl-Heinz Rummenigge, said: “Financial Fair Play is a bonus for club football and helps ensure the future sustainable development of the game.
“Economic rationality must be top priority. ECA strongly welcomes Financial Fair Play and places significant trust in Uefa and its president, Michel Platini.”
Soriano pushing for an extension of the monitoring period from 3 to 7 years.
Article from the Telegraph:
The likes of Roman Abramovich and Sheik Mansour could be given more leeway to spend big under Uefa’s Financial Fair Play regulations after Manchester City lobbied for rule changes that would allow billionaire benefactors extra time to balance a club’s books. European football’s governing body is to consider proposals put forward by City and Paris Saint-Germain during what it revealed was a “full and frank” meeting to discuss the future of FFP on Monday, the first since both teams were fined a world-record £49 million for failing its break-even test.
City’s chief executive, Ferran Soriano, was among those to argue that Uefa’s current three-year monitoring period should be extended by up to seven years to allow clubs to live the same rags-to-riches dream pursued by his side and Chelsea. One of the major criticisms of FFP is that it may make it much more difficult for new teams to break into the elite of European football.
Yet, any extension of the monitoring period would have to be weighed against the risk that those without sufficient resources may resume the “reckless spending and financial insanity” that prompted Uefa to devise FFP in the first place. Its president, Michel Platini, is understood to be open to exploring the matter as part of a planned evolution of the regulations from a cost-control measure towards a system that encourages growth.
Any immediate amendments were ruled out during Monday’s meeting of Uefa’s stakeholders, as was the introduction of debt-reduction into the FFP rules, something that would have brought Manchester United under greater scrutiny.
Platini said: “We have succeeded in reducing the cumulative losses of European clubs and in stabilising European football’s finances.
“We must now work together to ensure that clubs can grow and prosper in the future – and today’s discussions were an encouraging step in that direction.”
Monday's meeting was attended by representatives of the Football Association, European Club Association, European Professional Football Leagues, FIFPro, the German Football League – as well as executives from Real Madrid, Bayern Munich, AC Milan, Juventus, Ajax, Lyon, Zenit St Petersburg and Olympiakos.
The chairman of the ECA and Bayern, Karl-Heinz Rummenigge, said: “Financial Fair Play is a bonus for club football and helps ensure the future sustainable development of the game.
“Economic rationality must be top priority. ECA strongly welcomes Financial Fair Play and places significant trust in Uefa and its president, Michel Platini.”