Background
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.[1]
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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