UEFA has finally agreed to consider replacing the current financial system.
has decided to publish proposals that can potentially replace the current Financial Fair Play system, and they will introduce a salary cap and a luxury tax to prevent clubs from overspending in the transfer market.
There have been many critics standing against the idea of FFP rules which were introduced in 2010 for the first time and made the clubs break even over three years to prevent the wealthy teams from spending irrational amounts of money in the market, but the rules have tortured many clubs and their supporters which have seen their teams unable to keep their players or to sign their targets in the transfer market.
The Times has claimed that UEFA is ready for a complete overhaul in their criticized system by introducing a salary cap and the proof for the new system’s success they can look at the system used in the United States in Major League Baseball and the NBA.
The decision about how the system would be used has not been decided, and the European Commission will probably use a percentage of revenue, and the alternate option is to use a salary cap at a very high level for all teams, and they will be allowed to exceed the cap, but they will have to pay an extra luxury tax, which could see them pay nearly double the amount of their breach into a fund which would then be distributed to other teams in their competition.
And the offenders could be banned from participating in European competitions or even bigger punishments to prevent the teams from spending too much money in the market.
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