4 Mar 2010European clubs win concessions over financial fair play

Football Finance News | Football Leagues/ Association and Governance

UEFA has agreed to modify its proposals for new financial regulations following negotiations with the European Club Association (ECA).

The financial fair play rules were initially set to come into force in 2012, but will now be phased in gradually from 2012 to 2015, the ECA announced on Tuesday (March 2nd).

Football clubs will be required to break even without loans from wealthy investors, spending only what they earn through gate receipts, broadcasting deals and other football-related income.

The ECA confirmed that an agreement had been reached over the new rules during its General Assembly in Manchester, which was attended by 92 member clubs.

ECA chairman Karl-Heinz Rummenigge described the deal as "a huge achievement".

He added: "The ECA has managed, together with UEFA, to set measures that will shape the future of European club football into a more responsible business and ultimately a more sustainable one."

Formed in 2008, the organisation represents 144 clubs from across the 53 national associations governed by UEFA.

Written by Terry Mitchell

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