Top 5 Tips For EFL Financial Fair Play Compliance
Operating sustainably within the football industry is challenging, in any financial climate. The difficulties have been compounded as clubs are still recovering from the COVID-19 pandemic and are now facing high levels of uncertainty, due to the cost-of-living crisis.
As well as these turbulent economic conditions, football clubs are being put under increased scrutiny over Financial Fair Play submissions. This has further stressed the importance for football clubs to understand the financial regulations by which they are governed.
This article examines 5 key areas which can support Financial Directors in ensuring that their club is compliant with EFL Financial Fair Play requirements.
- Key Definitions;
- Reporting Deadlines;
- Aligning Submissions;
- Supporting Evidence; and
- Risk Management.
The author pulls from his experience of working within the EFL’s Club Financial Reporting Unit, in which involved the responsibility of reviewing and monitoring the financial submissions of the 72 member Clubs.
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- Tags: Financial Fair Play | Football | Regulation | UK
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Written by
Joshua Price
Joshua is the Founder and CEO of Goal Assist Limited.
Goal Assist provide a combination of both education and business support across subjects such as Financial Fair Play and Football Governance, in order to ensure that sports organisations are able to run efficiently, effectively and sustainably.
