EPFL fosters good Financial Governance

EPFL fosters good Financial Governance

Cycle of Seminars for Leagues and Clubs kicks off in Edinburgh. Focus on Financial Control Systems, Third Party Ownership and Financial Pair Play

During the last couple of decades, Professional Football has grown exponentially, in terms of global appeal, attractiveness and income, driven by the unconditional passion of millions of fans and the influx of money from TV broadcasters, sponsors and other investors.  Despite the income rising every year, expenses have also escalated, especially on players’wages, transfers fees and payments to agents, leaving many clubs under considerable financial distress.  In this context, aggravated by the impact of this severe and unprecedented crisis which affects European and global economy, but also considering the great economic potential of football, the EPFL is launching a series of proactive initiatives aimed at promoting the implementation of the highest financial standards and supervision mechanisms to ensure clubs’indispensable financial sustainability and further boost football’s business and economic potential.

To this end, and in pursuance of its action plan for the 2012/13 football season, the EPFL has taken the initiative and responsibility to organise a Cycle of Seminars on Good Financial Governance.

The inaugural Seminar will take place in Edinburgh, Scotland, on the 25th October 2012, and will gather the forefront of Professional football industry, senior representatives from the EPFL Leagues and a number of top level experts in the field of Professional Football Finance.

This first Seminar will focus on several critical issues, including club financial control systems at Leagues’ level, financial transparency, third party ownership of players’economic rights and UEFA financial fair play. It will also address a series case studies which shall portray, in a concrete and practical fashion, the relevant models and measures that Leagues and clubs have at their disposal to boost policy-making and effectively meet the key challenges facing each of the key areas under analysis.

Culminating this cycle of seminars, the EPFL shall develop a set of Guidelines and Recommendations on Good Financial Governance, among other impacting initiatives.

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