UEFA decides to relax FFP regulations, as the Coronavirus outbreak brings the worst economy in football since World War II.
According to the report by the Athletic, the UEFA has rolled out another decision to relax the regulations of the financial fair play to help cash-strapped clubs survive the crisis amidst the coronavirus pandemic.
With the world football set to face the worst economy since World War II, the move by the UEFA has been welcomed but some critics have warned the governing body of the big clubs taking advantage of it.
In response to calls for urgent help, the Swiss-based governing body has extended the deadline for clubs to prove they have no “overdue payables” — such as unpaid tax bills, transfer instalments or wages — from March 31 to April 30.
“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,” a UEFA spokesperson told The Athletic.
Exclusive: UEFA to relax FFP regulations in light of coronavirus crisis.
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— The Athletic UK (@TheAthleticUK) March 20, 2020
The rule by UEFA was rolled out in 2011 to curb the overspending by the clubs to prevent clubs from spending more than they have generated, as to maintain the financial health of the clubs.
Confirmation of the move comes after a day when the Premier League informed the clubs that domestic broadcasters might ask for £762 million back if no further fixtures are going to be played ahead in the season.
Former Football Association chief executive Mark Palios told The Athletic that clubs will go bust if players do not agree to pay cuts as the clubs would be financially crunched.
Already the English FA decided to postpone all professional football activities at least until April 30th, thus, giving no chance that the remainder of the season will be ended in time.