UEFA have confirmed that Financial Fair Play regulations are set to altered following the recent world pandemic, clearing the way for Stan Kroenke to boost the club’s coffers without risking our participation in European football in future seasons.
The American businessman has come under criticism in recent seasons for failing to back the club in the transfer market, but last summer was a little different.
Our club was allowed to sign in excess of £100 Million in signings for the first time since 2014, breaking the club’s record signing with the arrival of Nicolas Pepe.
That splurge of spending may have worked out as badly timed, with the current season having been forced to be suspended with a deadly virus causing havoc around the globe.
Clubs are usually tasked with being self-sufficient in recent years, with spending having exploded since the turn of the millenium, but UEFA have now confirmed that they will ‘adapt’ the current rules due to the pandemic.
“The situation is extraordinary and we will not pretend that it’s not so we will adapt the Financial Fair Play system, but the final decision in which direction we will do it is not brought yet so yes we will adapt,” UEFA chief Aleksander Ceferin revealed.
“We think it’s important to adapt it because the situation for the clubs is not easy and we are all in the same boat here, but it’s again too soon to share details of how we will do it because the clubs are included in the conversation and the leagues are also included in the conversation.”
Kroenke will now be allowed to help us through this tough period, as was his intention following the recent drop in income, without the need to worry about sanctions from the governing body.
Could the American give us a healthy transfer budget to show his intent in backing Arteta? Will FFP only be relaxed enough to allow clubs to cover the losses of income or will they be laxed further?