UEFA OKs new rules scrutinizing clubs’ finances | Associated Press

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 59%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

NYON, Switzerland—UEFA approved new financial monitoring rules for European soccer clubs on Thursday, giving up on “fair play” and lowering expectations it can solve the competitive imbalance in the Champions League.

The “Financial Fair Play ” system in place since 2010, and known as FFP, will be replaced in June by “Financial Sustainability” regulations.

The Champions League has been dominated by the wealthiest of clubs, ones able to afford rising player salaries and huge transfer fees. Over the past decade, the most unlikely club to reach the final was Tottenham—which currently has the The new rules were praised last week by the Spanish league for “restricting the ability of state-owned clubs to commit financial doping.

“The deterrents are there,” Traverso said. “As from a certain moment [clubs] would be so harshly penalized that I think it would be quite dissuasive.” “We believe the way [the rules] are refined is becoming more and more difficult for clubs to go around,” Traverso said, acknowledging “our capacity of investigations are somehow limited because we, as you well know, are not the police.”

Under the new rules, club owners can cover losses of €60 million over three years—double the amount allowed when FFP was launched a decade ago.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 19. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan rugby magnet for top players | Associated PressWELLINGTON, New Zealand—Japan’s professional rugby competition increasingly is becoming a magnet for the world’s best players and likely will become more attractive as the standard of the league rapidly improves. Milton Haig, the New Zealand-born head coach of Tokyo-based Suntory Sungoliath, says the gravitation of top players to Japan likely…
Source: BusinessMirror - 🏆 19. / 59 Read more »

China used TV, TikTok stars in discreet Olympics campaign | Associated PressWASHINGTON—A “Real Housewives of Beverly Hills” TV star, a Paralympic swimmer and a self-described “brand king” were among the Instagram and TikTok influencers who were paid by Chinese officials for a discreet campaign that promoted the Beijing Winter Olympics, new Justice Department documents reveal. The social-media posts fanned across a…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Chel Diokno slams misogynist attacks on Robredo daughter, calls on Google to remove linksHuman rights lawyer Chel Diokno on Monday asked Google to immediately remove links to online content falsely associating Vice President Leni Robredo&39;s eldest daughter Aika to pornography. 'We call on Google to remove these links immediately and to pro-actively prevent any more links containing the same abhorrent misogynostic attacks to be published. Google should not allow itself to be used for crimes against women,' Diokno said. It is totally uncalled for and the asshole who did that should be punished with maximum punishment of the law and if possible, public lashing. Nobody should go so low is trying to smear the beautiful talented daughters of the VP. If there is fault, point it out honestly not smear
Source: gmanews - 🏆 11. / 68 Read more »

Final testing and sealing ng VCM sa New York, hindi pa naisasagawa bago magsimula ang overseas votingNEW YORK CITY - Hindi pa rin naisasagawa ang final testing and sealing ng mga voting counting machine (VCM) na gagamitin para sa overseas absentee voting (OAV) dito sa New York.
Source: gmanews - 🏆 11. / 68 Read more »

DUMPER PTDA Party-list press statement on fuel subsidy exemptionThe COMELEC granted the LTFRB's petition to exempt the fuel subsidy program from the election ban on public spending for government projects. DUMPER PTDA fought to ensure that these subsidies were included in the 2022 National Budget.
Source: manilabulletin - 🏆 25. / 51 Read more »

Pakistan's Prime Minister Imran Khan ousted in no-confidence vote in parliamentPakistan’s Prime Minister Imran Khan was ousted when he lost a vote of confidence in parliament, after being deserted by coalition partners who blame him for a crumbling economy and failure to deliver on his campaign promises. Asalaam walaiku Pakistan!
Source: rapplerdotcom - 🏆 4. / 86 Read more »