KIEV, May 24 (Reuters) - European football clubs will have to make public their financial information including wages and amounts paid to agents in fees under changes to UEFA’s control system.
UEFA’s Executive Committee on Thursday passed changes to the Financial Fair Play rules after what it called a “complete and comprehensive review” of the system.
Making public a club’s finances will become part of the process of club’s receiving their licence and European soccer’s governing body hope this will increase transparency about the game’s finances.
Some clubs are already obliged by stock market rules or national league requirements to publish their financial details but the change of rules by UEFA will force many clubs to go public for the first time.
There has been concern within European football about the amounts of money being made by agents from transfer fees.
The new rules will also allow UEFA to launch investigations of spending by clubs as soon as a transfer window closes — rather than waiting until the end of the season or financial year. (Reporting by Simon Evans Editing by Christian Radnedge)