UEFA have temporarily eased their Financial Fair Play regulations and added new emergency measures to help clubs with their finances during the Covid-19 pandemic.
The UEFA Executive Committee met via a video conference, with approved measures such as the postponement of the break-even assessment of club finances for 2020. This will be moved to the financial year of 2021.
In an official statement by UEFA, each of their emergency measures will have flexibility at the forefront as clubs are given the chance to adapt to this unique and complex situation of the pandemic.
UEFA will ensure that each club continues to fulfil their transfer and salary obligations on time, by allowing them more leeway to take into consideration any unanticipated loss of revenue as the future remains unclear, including the return of crowds to matches.
The adverse impact of Covid-19 will be neutralised according to UEFA, as clubs are allowed to adjust the break-even calculation for revenue shortfalls reported this year and next, aimed at protecting the system from potential abuses.
There will be equal treatment of clubs given that the impact of Covid-19 may be felt differently depending on reporting periods and when each country’s domestic leagues take place. Not all competitions have had a restart to their seasons and even cancelled, while those that have started again will most likely go beyond the end of this financial year.
UEFA will make sure to get an accurate reading on club finances, where instances of revenue shortfall are caused by Covid-19 and not financial mismanagement. It means that the spirit and intent of financial fair play is still there to secure football’s long-term viability.
Financial Fair Play changes have been eased as UEFA recommends a ‘harmonised’ end date to the next transfer window due to the interrupted league seasons and losses of revenue. Clubs will need to navigate through the end of player contracts on June 30 despite competitions exceeding that point.
The UEFA Executive Committee has called on all member associations to mark down the date of October 5, 2020 as deadline day, while the due date for player registration for the group stage of the 2020/21 UEFA club competitions has been set a day later at October 6, 2020.