₦airaland Forum

European football's governing body decided to overhaul the FFP rules that were introduced in 2010 in order to reduce spiralling club debts across the continent.
UEFA

UEFA on Thursday approved new licensing and "sustainability" regulations to replace its existing Financial Fair Play (FFP) rules, allowing European clubs to make bigger losses than before while bringing in caps on spending on wages and transfers.

As expected, European football's governing body decided to overhaul the FFP rules that were introduced in 2010 in order to reduce spiralling club debts across the continent.

FFP's limitations had been exposed by the emergence of state-held superpowers like Manchester City and Paris Saint-Germain, while huge losses incurred by the coronavirus pandemic left poorer clubs with little room for manoeuvre.

"The biggest innovation will be the introduction of a squad cost rule to bring better cost control in relation to player wages and transfer costs," UEFA president Aleksander Ceferin announced following a meeting of the body's executive committee.

UEFA will now allow clubs to report losses of 60 million euros ($65.5m) over three years rather than 30 million euros previously, and the permitted figure will even reach 90 million euros for a club "in good financial health".

However, that relaxation of the rules is combined with the new ceilings on wage spending.

There was never any possibility of bringing in a specific salary cap like in North American sports because UEFA has 55 member countries and must contend with European Union and national labour and competition laws.

Yet under UEFA's new regulations clubs will be forced to limit spending on player and staff wages, transfers and agents fees to 70 percent of total revenues by 2025/26.

The ceiling will drop as current contracts expire: 90 percent of club income in 2023/24, followed by 80 percent the season after and then 70 percent.

"Before the pandemic, the average ratio was under 70 percent," said Andrea Traverso, UEFA's director of financial sustainability.

Then the health crisis led to losses over two seasons of about seven billion euros, causing that ratio to rise.



- Financial and sporting penalties -


Ceferin said breaches of the new rules "will result in predefined financial penalties and sporting measures".

The size of the fines will depend on the extent to which clubs have crossed the threshold, with that money then redistributed among the well-behaved -- in line with the idea of a "luxury tax" championed in the past by Ceferin.

Serious or repeated breaches will lead to sporting punishments, with Traverso saying these could range from bans on using certain players and limits on squad sizes, to points deductions in the new-look Champions League group phase to be introduced from 2024.

He added that discussions are ongoing about the possibility of teams being demoted from one European competition to another, for example from the Champions League to the Europa League.

The fate of FFP in its existing guise was sealed when Manchester City successfully appealed to the Court of Arbitration for Sport (CAS) in 2020 to have a two-year ban from European competition overturned.

Abu Dhabi-owned City had been accused of deliberately inflating the value of income from Emirati sponsors Etisalat and Etihad Airways to meet FFP regulations.

State-owned clubs such as City and Qatar-backed PSG may still find themselves in a position to spend far more than their rivals, despite the new 70 percent rule.

Meanwhile, traditional giants like Barcelona and Juventus -- two of the main backers of the failed European Super League project -- could see their ambitions still restricted by the need to reduce debts.

The new regulations come in at a time when elite-level football is dominated by a smaller and more select group of clubs than ever, but Traverso said improving competitive balance required more than just financial measures.

Now that UEFA has announced its new budgetary rules after months of consultations, he said the body was "going to open a new chapter and move on to other measures".

Mega-rich Chelsea bidder in London For Takeover Talks.

Chelsea bidder Ken Griffin is landed in London for takeover talks this week, according to reports. The American is said to be part of a consortium led by the Ricketts family and has four times the wealth of current owner Roman Abramovich, pulling up a net worth of 27.7bn US dollars.



Meanwhile, Potential owners of Chelsea Football Club have been given a new deadline to table final bids for the club as Roman Abramovich looks to move on.



It is believed that Raine Bank have ascended the original deadline until the end of next week, with a preferred bidder to be announced in due course.

– Gunmen suspected to
be members of the
Indigenous People of
Biafra have attacked
some soldiers on patrol in
Aba, Abia state
– The gunmen were said
to have launched the
attack on the
unsuspecting soldiers at
about 3 am on Friday,
April 8
– Sources said the
gunmen attacked a
military van used by the
Nigerian soldiers for their
operation in the location
Soldiers operating in the
commercial city of Aba,
Abia state have been
attacked by some yet to
be identified gunmen.
The Nation reports that
the incident happened in
the early hours of Friday,
April 8, during a patrol
session by the soldiers.
Some gunmen have
attacked soldiers
operating in Osisioma
junction in Aba.
Sources with the
commercial city said the
attackers laid an ambush
for the unsuspecting
soldiers along the
popular Tonimas
junction, Osisioma local
government area of Abia
state.

Cross carpeting continues

Diego Maradona's
'Hand of God' shirt
expected to fetch £4
million at auction
The shirt worn by Diego
Maradona when he scored
his infamous "Hand of
God" goal against England
at the 1986 World Cup is
expected to sell for at
least £4 million ($5.23
million), auctioneer
Sotheby's said
Wednesday.
The shirt is owned by
former England midfielder
Steve Hodge, who
swapped jerseys with
Maradona after Argentina
won the match 2-1
thanks to two goals by
the forward, the second a
solo effort that is
considered to be one of
the greatest ever scored.

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Schools everywhere,
nowhere to work

The beginning of the end of noise making

Sunnyobums:
This life eeh, even people wey their team no come champions league and whose teams no reach quarter final follow dey cast Chelsea

Sorry bro,
dry bones shall rise again

Benz Ema

Noise pollution go reduce for area

BREAKING: Serious Implication As Buhari Signs Executive Order 11 Into Law Wednesday, April 06, 2022.The President Buhari-led government is serious about instilling a maintenance culture in the country This is why the president signed Executive Order 11 on the maintenance of public buildings during the FEC meeting on Wednesday, April 6 The Nigerian leader in his opinion noted that the new law will help generate jobs for a massive number of citizens Your support matters. Sustain independent journalism in Nigeria During the weekly Federal Executive Council (FEC) meeting on Wednesday, April 6, at Aso Rock Villa, President Muhammadu Buhari signed Executive Order 11 on compulsory maintenance of buildings into law. After signing the order, Buhari directed all Ministries, Departments, and Agencies of government (MDAs) to set up maintenance departments in line with the provisions of the new law

dollynnn:
GOAT? You mean, Greatest of all time?

hahaha...

This man has been walking freely despite is indictment

Waiting for Tinubu's reaction

waiting for Tinubu's reaction

Waiting for Tinubu's reaction

Treat As Very Important: IGP Gives Order For Immediate Dismissal Of High-ranking Officers, Names Released Wednesday, April 06, 2022 at 11:19 AM by Onyirioha Nnamdi Not less than two inspectors, five sergeants, and two constables were ordered to immediately leave the Nigeria Police Force on Tuesday, April 5 The order came from Inspector-General of Police (IGP) Usman Baba after it was discovered that the officers were planning to begin strike action IGP Baba directed all police commissioners to delete the names of the operatives from the NPF's payroll with immediate effect Your support matters. Sustain independent journalism in Nigeria – contribute to Legit.ng. Abuja - Some top officers of the Nigeria Police Force (NPF) have been dismissed for planning to embark on strike over the alleged poor welfare of personnel. The order seen by The Punch was given on Tuesday, April 5, by Inspector-General of Police (IGP) Usman Baba through a signal of the commissioner of police provost, Force Headquarters, Abuja. IGP Baba said the order should be treated as very important (Photo: @PoliceNG) Source: Twitter IGP Baba's directive came after an orderly room trial of the plot by the said officers contained in tracked phone calls which led to their arrest. Read more: https://www.legit.ng/nigeria/1464397-treat-important-igp-order-dismiss-high-ranking-officers-names-released/

The names of the officers are as follows: AP/No. 245800 – Insp Nanoll Lamak AP/ NP 287568 – Insp Amos Nagurah F/No. 271367 – Sgt Onoja Onuche F/No. 442680 – Sgt Franklin Agughalau F/No. 495378 – Sgt Emmanuel Isah F/No. 508168 – Sgt Adesina Ismail F/No. 508282 – Sgt Osoteku Ademola F/No. 525839 – Police Constable Ehighamhen Favour Ebele F/No. 528222 – Police Constable Ubong Inem Read more: https://www.legit.ng/nigeria/1464397-treat-important-igp-order-dismiss-high-ranking-officers-names-released/

Liverpool 2 goals up

osinbanjoisaliar:
Dem wan use NIN do digital rigging. But God pass dem

You don't mean it!

ufuosman:
Senate will remove the ban, they are into the business too so dey are loosing billions of naira....


As for me no NIN

Fingers crossed!

NIN-SIM Link: 72 Million Subscribers Groan Over Blocked Lines As Telcos Count Loses Tuesday, April 05, 2022 at 11:52 AM by Pascal Oparada Over 72 million subscribers have been barred from using their lines as the Nigerian government's directive became effective on Monday, April 4, 2022 Telecommunication companies are counting losses of disconnected lines as they fear the loss of revenue But a source confirmed that the barred lines can still access the internet, send SMS and receive calls Your support matters. Sustain independent journalism in Nigeria – contribute to Legit.ng. Telecommunication companies in Nigeria are hit hard due to the disconnection of over 72 million telephone lines in Nigeria on Monday, April 4, 2022. The losses run into billions of naira, according to telecom experts who said the biggest losers in the government directive are the telcos. Read more: https://www.legit.ng/business-economy/technology/1464199-nin-sim-link-72-million-subscribers-groan-over-blocked-lines-as-telcos-count-loses/

Remag666:
Assnal fan spotted
God forbid make I carry assnal for my ticket I rather pick eyimba.
How can you understand what I wrote you don't even understand how your team lost 3:0

You're sleeping on a bicycle

Remag666:
There are 2 certain things in this life 1 Death 2 Assnal to fall your hand ( their fans sha not u )

Only you understand what you wrote. Abi your ticket cut

BlueLORD:
We'll see about that!

...and you saw just that, Palace 3,Arsenal nil

I said it earlier that Arsenal will collect and they collected

America with them cockroach sense.
If Donald Trump had succeeded in erecting his wall of Jericho how would they have been crossing

Arsenal go collect

LeoDeKing:
Simon Ekpa is greater than ojukwu, Soludo Azikiwe, Nnamdi Kanu, Hope Uzodimma, Ikpeazu, Peter Obi, Ken Nnamani and Ngozi okonja iweala combined.

only one soul

Everybody wants to rule

Naija music have come a long way

After he crippled his political career

Baba ni ye