Financial Fair Play regulations show positive effect
Friday, 20 09 2013
UEFA's Head of Club Licensing & Financial Fair Play, Andrea Traverso, addressing ECA Members in Geneva on the 10th of September.
Europe's football governing body, UEFA, today published the latest UEFA Club Licensing & Financial Fair Play Benchmarking Report. In light of the coming into force of the break-even requirement during the 2013/14 season, UEFA have assessed the financial status of the 237 clubs participating in UEFA's club competitions in the running season. This assessment allows for a first snapshot of the clubs' financial health based on the 2012 financial accounts.
UEFA's Head of Club Licensing & Financial Fair Play, Andrea Traverso, already presented the results of the benchmarking report to the ECA General Assembly last week in Geneva, underlining the positive effect the Financial Fair Play Regulations have on club finances:
- After six years of increasing losses, the last financial year saw a ¤600m reduction in the aggregate losses of Europe's first division clubs;
- For the first time since records began in 2006, revenue growth (6.9%) has outpaced wage growth (6.5%);
- Overdue payables have reduced from ¤57m in 2011 to ¤9m in summer 2013 (70% decrease on the ¤30m figure for 2012).
However, despite this positive trend, there is still a lot of room for improvement. ECA will continue assisting its Members, in close collaboration with UEFA, to ensure that European club football finances continue developing positively in the future.