UEFA’s financial fair play programme was approved in 2010 following an extensive consultation process with a variety of stakeholders across Europe and the first financial assessments under the UEFA Club Licensing & Financial Fair Play Regulations (CL&FFP Regulations) were carried out in 2011.
In the early years of the project, clubs were only required to prove that they had no overdue payables towards other football clubs, their employees (including players) and social/tax authorities at certain dates during the football season (the Overdue Payables Requirements).
On the face of it, this might seem like a simple idea, but it represented an important first step in improving the standard of governance at football clubs and implementing financial fair play in European football - to ensure that clubs pay...
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