UEFA Relaxes Financial Fair Play Rules Amid COVID-19 Crisis
In this file photo taken on February 28, 2020 shows the UEFA logo at the organization’s headquarters in Nyon. Fabrice COFFRINI / AFP.UEFA has opted to temporarily soften its financial fair play rules to help clubs impacted by the economic fall-out of the coronavirus crisis, European football’s governing body announced on Thursday.
It means that clubs will be given longer than usual to show they have met payments owed on transfers and salaries, while “the assessment of financial year 2020 is postponed for one season, and will be assessed together with the financial year 2021”. The English club have appealed to the Court of Arbitration for Sport in Switzerland, which will announce its judgement on the case in July.Assessments began in 2011 when European clubs reported overall losses of 1.7 billion euros. In contrast, according to UEFA’s most recent annual “benchmarking” report, the 700 top-tier clubs across the continent made a combined profit of 140 million euros in 2018.
The summer transfer window in Europe usually closes at the start of September, although individual countries do not all follow the same dates.
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