March 28 – UEFA look set to scrap Financial Fair Play (FFP) after 10 years and replace it with radical new rules that would ultimately cap spending on wages, transfers and agents’ fees to 70% of revenue, according to reports.
If agreed, the plans will be phased in from 2023, when clubs will be allowed to spend 90% of their income, reducing to 80% in 2024 and 70% a year later.
Under the new system, should teams overspend they will be relegated within UEFA’s competitions, from the Champions League to the Europa League and the Europa Conference League.
FFP was introduced in 2011 in a bid to stop clubs from running up huge losses and to encourage them to be more financially prudent. But the system is now apparently set for a reshuffle that should make it easier to follow.
The European Club Association (ECA) will assess the proposals from UEFA at a meeting on Thursday, with the new regulations due to be confirmed in April.
If they abide by the new rules, clubs could reportedly be allowed to spend another $10 million.
Crucially, the plans, being put together by UEFA in conjunction with the influential ECA, would double the permitted losses over a three-year period from €30 million (£24.98 million) to €60 million (£49.96 million), providing they are covered by cash injections.
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