European football’s governing body UEFA have reportedly relaxed their Financial Fair Play regulations after the outbreak of coronavirus suspended all football action. The pandemic has forced leagues across Europe to come to a complete standstill with the financial impact causing problems for clubs.
That has already seen this called the biggest economic challenge since the Second World War with even the bigger sides across Europe forced to take serious action. Barcelona are reportedly looking to cut their wages in order to survive with similar moves in the pipelines for various clubs across England, Italy and Germany. It has already started to cause serious problems for the smaller sides and the Athletic have reported that UEFA have relaxed their Financial Fair Play regulations.
The report revealed that the main goal behind the move was to help cash strapped clubs improve their profit and loss line with the deadline shifted from March 31 to April 30. The move has seen UEFA praised by many across Europe as it hands the smaller sides enough time to balance their books and focus on various other issues that plague them.
A spokesperson from UEFA went on to admit that such a ruling is written into the spending rules and that it allows UEFA to give clubs a little more time in case of extraordinary circumstances. They also added that since this situation is beyond the control of any club, UEFA are willing to take it into account and give clubs across Europe a little more leeway to sort out their finances.
“Any extraordinary event or circumstances beyond the control of the club that are considered a case of force majeure are taken into account as part of the club’s assessment, on a case-by-case basis,” said a UEFA spokesperson to the Athletic.
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