The Times today report that Uefa will shortly announce Financial Fair Play (FFP) sanctions against Paris St-Germain, Barcelona, Inter Milan, Roma and Juventus. Newco’s remarkable Europa League run, and subsequent player sales, will provide a stay of execution. They could even announce the first operational profit in their history when accounts are published.
With football on the ropes for two years, Uefa loosened FFP regulations and announced the system would be reviewed. Going forward, clubs will be limited in what proportion of turnover they can spend on football operations, which is a decent proxy for a sustainable business model.
Taking on PSG, Barcelona, Inter, Roma and Juventus would be a huge stake in the ground for Uefa and a win for fans of well-run clubs, who want to see the end of debt-fuelled speculative gambling in the game. Celtic fans know more than most what it is like competing with a death wish club, intent on driving off the cliff edge, if it wins football games. For us, it was divisive, as some wanted Celtic to compete in the spending stakes; it also cost us trophies and access to European competition.
Newco show no signs of having learned lessons from the demise of Oldco Rangers. Although Celtic were a shambles in season 2020-21, it took cumulative losses approaching £100m to stop our title run. Strong financial regulation is on the side of the good guys.
I expect we will touch on this again before the week is out.