AC Milan on their website have relayed the statements of the club CEO on the new Financial Sustainability Rules which replace the FFP beginning next season. The new rules allow clubs to spend only 70% of their revenue on transfers, salaries and other related expenses.
Reacting to the UEFA’s announcement of the new Financial Sustainability Regulations, Ivan Gazidis, CEO of AC Milan, said:
“The new rules represent a significant evolution of the previous Financial Fair Play structure. It is clear that creating a financially sustainable model for European football remains a critically important objective and we hope that, after the period of transition from the previous system, the new rules will be strongly enforced to ensure that they can help drive us towards this ambition.
As a Club, our strategy has financial sustainability at its core and we are already taking steps to ensure that we will be in full compliance with the new rules. We are actively engaging in discussions with UEFA’s Club Financial Control Body around the Club’s financial performance in recent years. We are confident of a successful outcome to these discussions given the significant progress that we have made with our sporting and financial turnaround thanks to the support of our ownership and the hard work of our management team.
We are all aware that pressures within the ecosystem of European football have been building, exacerbated by the financial implications of the pandemic. Despite these challenges, we have a great opportunity in front of us to drive positive change. The failure of the Super League demonstrated that the only way to do this successfully is by creating an open and constructive environment based on transparency, dialogue and trust. We have had positive and broad-ranging discussions with UEFA about the future development of the game and look forward to continuing to develop our strong relationship with its leadership in future.”