UEFA back need for sustainable football practices in football
UEFA recently-published their fourth annual Club Licensing Benchmarking report, highlighting the need for sustainable business practices and a system of good governance across the European game, in order to preserve football clubs as valuable community assets. The report was recently backed by the European Commission (EC) with Vice-President in charge of competition policy Joaquin Almunia and UEFA President Michele Platini confirming that UEFA’s Financial Fair Play are in line with EU state aid policy, and that both organisations will work together to promote a situation where all professional clubs live within their means, and compete fairly.
Mr Almunia stated, “I am a football fan and I hope that future generations will also be able to watch and enjoy first class professional football based on solid grounds. I am deeply concerned by the increasing level of indebtedness of many European clubs. This situation is not sustainable. Both EU state aid rules and UEFA objectives help introduce discipline and rationality in football club finances.” Mr Platini said, “I am very pleased that UEFA and the EC have together taken this decisive step to secure a prosperous and stable future for European football and for the European football community generally. Our statement confirms that UEFA’s financial fair play regulations are fully consistent with EU State aid policy and I would like to sincerely thank vice-president Almunia and the EC for their commitment, constructive spirit and cooperation in this joint process.”