FILE PHOTO: Soccer Football - Europa League - Round of 16 draw - Nyon, Switzerland - February 28, 2020 General view of the UEFA logo at UEFA Headquarters before the draw REUTERS
European football clubs have been given a temporary respite from UEFA’s breakeven rule, known as financial fair play, to help them recover from the three-month stoppage caused by the coronavirus pandemic.
UEFA’s executive committee decided on Thursday that its assessment of clubs’ accounts for the 2020 financial year would be postponed for one year when they would be assessed together with the accounts for 2021.
However, clubs would still have to ensure that they did not owe money for transfers, players’ wages or social security and tax bills.
UEFA said the move was aimed at “giving clubs more time to quantify and account for unanticipated loss of revenues.”
It also hoped to “provide flexibility while ensuring that clubs continue to fulfil their transfer and salary obligations on time.”
The rules bar clubs from spending more than the revenue they generate themselves. Clubs face fines, squad reductions and possible expulsion from European competition if they break the rules, which were designed to stop rich club owners from buying success.
UEFA called on its member associations to harmonise the end of their summer transfer windows, with Oct. 5 as the deadline date.
It said the deadline for registering players for next season’s Champions League and Europa League, which have been delayed as a knock-on effect of this season’s interruption, would be Oct. 6.
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