At its meeting in Nyon today, the UEFA Executive Committee approved the new UEFA Club
Licensing and Financial Sustainability Regulations. The rules are the first significant changes to
UEFA's financial laws since they were implemented in 2010.

Aleksander eferin, President of UEFA, said:
"UEFA's first financial regulations, introduced in 2010, served its primary purpose. They helped
pull European football finances back from the brink and revolutionized how European football
clubs are run. However, the evolution of the football industry, alongside the inevitable financial
effects of the pandemic, has shown the need for wholesale reform and new financial
sustainability regulations.

"UEFA has worked together with its stakeholders across European football to develop these
new measures to help the clubs to address these new challenges. These regulations will help
us protect the game and prepare it for any potential future shocks while encouraging rational
investments and building a more sustainable future for the game."

It should come as no surprise that the new legislation' primary goal is to ensure financial
sustainability. Three main pillars will be used to attain these goals: solvency, stability, and cost
reduction.

The new no overdue payables regulation (towards football clubs, employees, social/tax
authorities, and UEFA) would better safeguard creditors in terms of solvency. Controls will be
undertaken every quarter, and late payer will be given less leeway.

The new football earnings standards are an evolution of the previous break-even requirements,
and they will give clubs more financial security. The computation of football earnings is similar to
the calculation of the break-even result to make it easier for clubs to implement.

While the
allowable deviation has increased from €30 million to €60 million over three years, the
conditions for ensuring fair value in transactions, improving the clubs' balance sheet, and
reducing debts have all been significantly enhanced.

Wages, transfers, and agent fees are all limited to 70% of club revenue under the rule.

Assessments will be completed on a timely basis, and any violations will result in financial
penalties and sporting sanctions. In June 2022, the new regulations will take effect.