Uefa to initiate club finance control panel

author: Mark Chaplin
source: Uefa.com
date: 24 March 2009
editing: fcbtransfers.blogspot.com





UEFA's Executive Committee has approved the creation of a Club Financial Control Panel in what is a first concrete measure to improve financial fair play in the UEFA club competitions. The decision, taken at the committee's two-day meeting in Copenhagen, follows recommendations by the UEFA Club Licensing Committee and the Professional Football Strategy Council.

Financial and legal experts
At UEFA level, the body will comprise financial and legal experts and will ensure that the club licensing system will be applied correctly. It will be composed of a chairman and up to eight members appointed by the UEFA Executive Committee. "The main task of the panel will be to conduct financial audits on clubs in order to ensure licences were correctly awarded and it may further conduct spot checks, and/or investigations, to ensure that the integrity rules are observed by the clubs," said UEFA on Tuesday.

First concrete measures
UEFA General Secretary David Taylor says, "We already have a club licensing system across Europe – a system based on national licensing by national associations or leagues. We feel that it is important to have something at European level, and [the panel] will look specifically at the finances of clubs and how they are structured. As from next season, this panel will be doing continuous monitoring."

read the full and original article here


Read more:
Proposal to limit spending on transfers and salaries
New step in ban on youth transfers
UEFA and clubs have no plans for Super League