UEFA have confirmed they are relaxing Financial Fair Play regulations in the wake of the coronavirus pandemic.
European football’s governing body are hoping to help soften the financial blow caused by coronavirus by allowing clubs more leeway when it comes to balancing the books.
UEFA chief Aleksander Čeferin hinted at FFP changes last month when discussing how football can survive the pandemic, and the alterations have now been confirmed.
The changes mean this season’s break-even assessment, which requires clubs to prove they are not making significant losses, has been postponed to next year.
UEFA have also curtailed the monitoring process for the 2020/21 season, only requiring clubs to report for the years 2018 and 2019.
The monitoring period for 2021/21 has also been extended to cover 2018-2021, covering four seasons with the financial years of 2020 and 2021 to be assessed individually, rather than referenced and combined with other years as is usually the case.
UEFA say the ‘adverse (financial) impact’ of the pandemic will be ‘neutralised by averaging the combined deficit of 2020 and 2021’ and they also confirm there will be further ‘specific adjustments’ in the wake of the pandemic.
The news will be a big boost to Arsenal, Chelsea, Spurs and their Premier League rivals as they attempt to get to grips with these uncertain times.
Clubs no longer have the luxury of cashing cheques on the back of ticket sales and there’s no telling just how long fans will be kept out of stadiums.
That represents a significant loss for most teams, but UEFA’s changes should allow them flexibility as they seek other ways to plug the gap, or indeed prepare to suffer losses.