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A comment on the newly revised “2015 version” of the UEFA Club Licensing and Financial Fair Play Regulations


Franck, E (2016). A comment on the newly revised “2015 version” of the UEFA Club Licensing and Financial Fair Play Regulations. UZH Business Working Paper Series 362, University of Zurich.

Abstract

UEFA has revised its Club Licensing and Financial Fair Play Regulations in June 2015 (new FFP). Based on a conceptual analysis of the main components of new FFP – the Break-Even Requirement (BER), the Fair Market Value Principle (FVP) and the concept of Voluntary Agreements (VA) – this comment arrives to the following main conclusions: New FFP follows old FFP in creating hard budget constraints for football managers and in discriminating against “payroll gifts” and therefore against benefactors that are willing to inject money in exchange for “pure” sporting success. But new FFP is now less vulnerable to the allegation that it discriminates against true entrepreneurs wishing to develop mismanaged football clubs into sustainable businesses. The new concept of Voluntary Agreements (VA)gives them more flexibility to invest, particularly in such environments where quality is only slowly remunerated by the football markets.

Abstract

UEFA has revised its Club Licensing and Financial Fair Play Regulations in June 2015 (new FFP). Based on a conceptual analysis of the main components of new FFP – the Break-Even Requirement (BER), the Fair Market Value Principle (FVP) and the concept of Voluntary Agreements (VA) – this comment arrives to the following main conclusions: New FFP follows old FFP in creating hard budget constraints for football managers and in discriminating against “payroll gifts” and therefore against benefactors that are willing to inject money in exchange for “pure” sporting success. But new FFP is now less vulnerable to the allegation that it discriminates against true entrepreneurs wishing to develop mismanaged football clubs into sustainable businesses. The new concept of Voluntary Agreements (VA)gives them more flexibility to invest, particularly in such environments where quality is only slowly remunerated by the football markets.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:18 February 2016
Deposited On:11 Sep 2019 12:12
Last Modified:25 Sep 2019 00:45
Series Name:UZH Business Working Paper Series
Number of Pages:30
ISSN:2296-0422
OA Status:Green
Other Identification Number:merlin-id:18187

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