Arsenal, Chelsea and Tottenham will be affected by UEFA’s new regulations to tighten up on licensing and financial sustainability issues ahead of the 2022/23 European campaign.
The latter two of the London trio will be competing in the 2022/23 Champions League after Thomas Tuchel’s and Antonio Conte’s side finished in third and fourth respectively in the final 2022/21 Premier League standings. Meanwhile, Arsenal and Mikel Arteta will be fighting for a Europa League title which the club lost to their Blue compatriots in the capital back in 2018/19 when Maurizio Sarri got the better of former Gunners manager and current Villarreal boss Unai Emery.
Before both competitions kick off next season, UEFA have now introduced a set of new regulations to try and reduce the inequality between the so-called bigger and smaller teams in each competition, to try and make the competition interesting and fair. It has been announced that on this first day of June, UEFA have introduced new rules which will effectively replace Financial Fair Play with the idea of excessive big-spending being limited for the so-called European elite in some areas. A move that has been done to promote fairness and the integrity of the three major European competitions.
Other changes that will be implemented with this new rule set will include the introduction of wage caps for all clubs and the idea that all sides’ losses are to be minimalised going forward into the forthcoming future.
Head of Sport at Mishcon de Reda Simon Leaf offered his verdict on these financial changes made by UEFA and what they mean for the game going forward.
He explained: “This marks the most significant reform to the financial regulation of European football in a generation. UEFA is the grandfather of Financial Fair Play and we expect both the Premier League and the EFL to also amend their rules to ensure that the domestic football finance regulations remain in sync with the European regime.
“Those UK clubs competing in European competition will be acutely aware of the changes that have now come into force and we are likely to see a greater pressure on transfer fees and wages for those clubs that regularly compete in European competition as a result.
“Alongside the other changes to the domestic football regulatory landscape that are on the horizon following the recent Crouch report, we are entering a period of great uncertainty for clubs across the country, as they wait to see just how the relevant regulators will adapt to the new rules.”
Managing Associates in the Sports group sector of the same financial company Tom Murray added: “This is the first of many upcoming reforms to the financial regulation of football. UEFA’s Financial Fair Play regime may be dead but the reign of Financial Sustainability is about to begin, bringing with it a host of legal challenges and potential judicial reviews as clubs grapple one another to gain competitive advantage.”