New strengthened Club Licensing and Financial Fair Play regulations approved
The UEFA Executive Committee met today in Kyiv and selected the venues for the 2020 UEFA club competitions finals as follows:
- UEFA Champions League – Atatürk Olympic Stadium, Istanbul
- UEFA Europa League – Arena Gdansk, Gdańsk
- UEFA Women’s Champions League – Austria Arena, Vienna
- UEFA Super Cup – Estádio do Dragão, Porto
The UEFA Executive Committee approved today the new edition of the Club Licensing and Financial Fair Play regulations to further strengthen the existing rules and to adapt to the ever-evolving environment of European football.
A complete and comprehensive review had been undertaken in consultation with national associations and all other stakeholders (ECA, European Leagues, FIFPro Europe).
Firstly, the new regulations will increase transparency with the obligation for clubs to publish their financial information, including payments to agents.
Secondly, there will be improved harmonisation of financial and accounting reporting principles on football specific transactions, such as specific accounting requirements for the transfer of players.
Thirdly, a more proactive approach in order to anticipate financial issues, by introducing a series of new financial indicators that will allow a stricter monitoring of clubs’ budgets by the CFCB. The indicators are: the sustainable debt ratio that will enhance the monitoring over the debt position of clubs and the player transfer deficit indicator that will enhance the monitoring on clubs transfer spending over a certain amount.
Finally the introduction of several requirements to provide better protection and education of youth players (introduction of child protection policy, new medical requirements and enhanced youth development programmes) and to enhance the standards and foster the development of women’s football in Europe.
The UEFA EURO 2020 final tournament match schedule was approved as follows:
The match pairings and the kick-off times will be added after the final draw in December 2019.
Finally, the UEFA Executive Committee appointed George Koumas, President of the Cypriot FA, to replace the late Costakis Koutsokoumnis on the FIFA Council until the 2019 UEFA Congress.
The next meeting of the UEFA Executive Committee will take place in Nyon, Switzerland on 27 September 2018.