Menu
Finance

Chelsea, Liverpool Execs Concerned UEFA Will Struggle To Enforce Spending Regulations

Execs of Premier League clubs Chelsea and Liverpool said that they "are not confident" that UEFA "can administer new cost-control regulations amid lavish spending by clubs backed by wealthy owners," according to Tariq Panja of BLOOMBERG. Starting next season, clubs that breach UEFA Financial Fair Play rules will face sanctions that the governing body said "will include fines, transfer embargoes and even suspension from the elite Champions League." Liverpool Managing Dir Ian Ayre said, "We have to see the application by UEFA, we have to wait and see how fair they really play it. I have to say my level of confidence in it isn’t very high." Even "amid the rules aimed at taming" Europe-wide football losses of more than $2B, Man City and Ligue 1 Paris St. Germain, both owned by Gulf royalty, and Monaco, backed by a Russian billionaire, "have continued to spend while losing money." Chelsea CEO Ron Gourlay said the team, which announced its first profit in the Abramovich era last year, is "focused on complying with the rules even though it was 'among the clubs targeted'" by UEFA when the changes were announced in '09. Gourlay: "It’s UEFA's competition so we want to make sure that we comply. All we’ve asked for is that UEFA police and manage the process with a clear, even playing field." Gourlay said that he was "concerned about teams boosting their balance sheets through 'arm’s length' contracts with companies connected to their owners." UEFA said in a statement that its Club Financial Control Body, responsible for administering the rules, will "benchmark" all deals and "only the fair value will be taken into account for the purpose of the break-even reporting." UEFA's statement said, "If clubs do not abide by the rules, the CFCB will use the list of sanctions at its disposal, irrespective of which clubs are not in line with the regulations" (BLOOMBERG, 7/22).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/07/23/Finance/Rich-Owners.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/07/23/Finance/Rich-Owners.aspx

CLOSE