A tricky European fixture: an assessment of UEFA’s Financial Fair Play regulations and their compatibility with EU law

Flanagan, Christopher A.

doi:10.1007/s40318-013-0006-4

Cited by 14 publications

(11 citation statements)

References 7 publications

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“…Even though there have been debates about the compatibility of FFP regulations with EU laws (Flanagan, 2013), the regulations are implemented and since European football clubs' competitive power mostly depends on their spending, the most decisive element of the FFP has been break-even. In the 2017/2018 season, some of the non-Big 5 major leagues such as Portugal, Russia and Turkey had a wage-to-revenue ratio higher than 70% which is the industry marker for club financial health.…”

Section: Introductionmentioning

confidence: 99%

An empirical analysis of financial fair-play: The case of Russian Premier League

Özaydın¹

2020

RUJEC

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The real impact of financial fair play (FFP) came along with the break-even rule which prevents clubs from over-spending through a variety of sanctions. As UEFA limited clubs’ expenses with their incomes, the transfer market took a hit. This paper demonstrates the impact of FFP on Russian Premier League teams’ transfer activity, examines how transfers’ demography and career profiles changed and investigates the changes in competitive balance after break-even. A regression discontinuity design is conducted in order to estimate the policy impact. The empirical results suggest that Russian clubs have been severely affected by break-even in terms of transfer expenditure and balance and started to transfer more U21 players and players from lesser leagues of the world. Furthermore, competitive balance in the Russian Premier League deteriorated in favor of the giants in the league as a result of break-even.

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Section: Introductionmentioning

confidence: 99%

An empirical analysis of financial fair-play: The case of Russian Premier League

Özaydın¹

2020

RUJEC

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“…Rather than the two being discrete, the success of FFP, which has helped foster an environment in European football whereby there have been significant reductions in financial losses, significant reductions in overdue payables, and revenue growth outpacing wage growth for first time since UEFA started collecting and analysing pan-European data (UEFA 2014), should inform the residual debate around the FCR. FFP is not without its own attendant legal challenges (Flanagan 2013), but the evidence suggests it is having a positive impact on financial stability (UEFA 2014). FFP also represents a more pro-active, ex ante, approach to solvency in comparison to the ex post FCR approach.…”

Section: The Financial Fair Play Eramentioning

confidence: 99%

Paid in Full: A Critical Look at the Law and Economics of the Football Creditors Rule

Flanagan¹

2016

Entertainment and Sports Law Journal

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The Football League has recently modified its Football Creditors Rule. Once the sport’s financial regulatory bête noire, the changes met with little fanfare. However, these amendments do not fundamentally change the essential structure of a regime that has seen criticism from the media, the judiciary, academics, and indeed has been subject to litigation by the British tax authorities. This paper examines the law and economics of insolvency in English football, framing the case of HM Revenue and Customs v. The Football League Limited & The Football Association Premier League Limited in its prevailing economic context and considering the particular legal challenge brought by HM Revenue and Customs, which was ultimately unsuccessful. Moving beyond the decision in the above cited case, a critique of the underlying cogency and validity of the Football Creditors Rule is provided, which is centred on the views espoused by Michael J. Sandel in What Money Can’t Buy: The Moral Limit of Markets. Particularly, it is posited that the nature of the rule has served to debase the norms that should govern football clubs’ financial management and has instead abetted a climate of free spending by systemically diminishing the downside risk of insolvency between football clubs.

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“…11 See UEFA (2015a). For analysis of the FFP Regulations see Long (2012); Flanagan (2013); Lindholm (2010); Petit (2014); Vopel (2013); Serby (2014b); Bastianon (2015). 12 Weatherill (2013); lawyer Jean-Louis Dupont, who acted for Bosman, brought a complaint to both the EC and the Brussels Court of First Instance on behalf of players' agent Striani stating that the 'break-even' rule generates the following restrictions of competition; restriction of investment; fossilisation of existing market structure; a reduction in the number of transfers; deflationary effect on players' wages and hence also agents' fees; see Dupont (2013).…”

Section: Introductionmentioning

confidence: 99%

“…78 UEFA's statutes at Article 61 give jurisdiction to CAS to arbitrate on disputes between UEFA and clubs, players and leagues and associations 'to the exclusion of any ordinary court'. Swiss club FC Sion's jurisdictional challenge led to threats from FIFA to expel Switzerland from international football; see further Flanagan (2013). 79 see UEFA (2009).…”

mentioning

confidence: 99%

“…For a fuller description of the FFP Regulations see Serby (2014b) and Bastianon (2015). 83 For further discussion see Flanagan (2013); see Vopel (2013). The trailblazer was Roman Abramovich at FC Chelsea who invested approximately half a billion euros on the club in the first decade of the century, more recently at Manchester City FC Sheikh Mansour bin Al Nahyan who purchased the club in 2008 is reported to have invested over one billion pounds of his personal wealth in the club.…”

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confidence: 99%

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The state of EU sports law: lessons from UEFA’s ‘Financial Fair Play’ regulations

Serby

2016

Int Sports Law J

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A tricky European fixture: an assessment of UEFA’s Financial Fair Play regulations and their compatibility with EU law

Cited by 14 publications

References 7 publications

An empirical analysis of financial fair-play: The case of Russian Premier League

An empirical analysis of financial fair-play: The case of Russian Premier League

Paid in Full: A Critical Look at the Law and Economics of the Football Creditors Rule

The state of EU sports law: lessons from UEFA’s ‘Financial Fair Play’ regulations

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