New UEFA licensing system targets finances

UEFA has published its new version of the 06/07 Club Licensing Manual, aiming to improve the financial discipline of clubs in its member associations. The ambition is to improve clubs' financial capability, and to increase transparency and credibility. UEFA will now seek more information concerning clubs budgets, in an incentive system, which means that those clubs who have reported good financial conditions over a period of time will be able to give less information for the coming years. “We are concentrating more on those clubs where we know there are difficulties. We are asking for audited statements, and we have introduced strict deadlines in the system. The clubs also have a duty to give information on major changes • so if you sack the coach, or a sponsor disappears, which might have a major impact on the financing of the clubs, they are now obliged under the new system to give this kind of information. This is important to make the proper evaluation of the financial capacity of the clubs," said UEFA Chief Executive Lars-Christer Olsson.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.