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One-month moratorium on clubs to show they are past due

first_imgThe clubs will have one more month to demonstrate that they have no deferred debts, within the measures adopted by UEFA in the face of the exceptional situation caused by the coronavirus pandemic and the economic impact suffered by the suspension of competitions.According to the Club Licensing and Financial Fair Play Regulations, The teams must meet this requirement on March 31, but with this possibility the deadline to do so is postponed from that date to April 30, 2020, as confirmed by UEFA.On the 17th and after deciding to postpone the Euro Cup from next summer to 2021 (from June 11 to July 11), UEFA also agreed to the creation of a working group to assess with the clubs, leagues and players unions, the economic, financial and regulatory impact generated by the coronavirus and adopt measures that help mitigate the damage.The UEFA Club Licensing and Financial Fair Play Regulations provide for the principle of force majeure regarding supervisory activity in relation to financial fairness. According to this, “any extraordinary event or circumstance beyond the control of the club and that is considered a case of force majeure is taken into account in the evaluation of the clubs on a case-by-case basis.” The leagues and clubs that have had to stop their competitions already have warned of the millionaire losses that they will suffer from this situation, as is the case of the Spanish LaLiga, which has estimated that not resuming the competition would mean losses of around 700 million euros.Clubs like Barcelona are studying measures that could affect the salaries of their squad and in Italy, Serie A weighs decisions that could include a reduction in the salary of footballers.The calculation of income from television rights in Italy amounts to 1,400 million euros per year. The stoppage of their competition already implies close to 600 million euros of losses for these rights, plus some 200 million for sponsors and another 150 million for tickets.last_img read more