Jean-Luc Dehaene, the former Prime Minister of Belgium, was appointed chairman of the newly-formed Club Financial Control Panel. Dehaene also has extensive experience in the private sector, being a member of the board of several important European companies.
The body will comprise of independent financial and legal experts and will conduct financial audits to ensure that the UEFA club licensing system is applied correctly across all 53 UEFA member associations. Its aim will be to restore financial discipline and rationality into club balance sheets “in order to protect the long-term viability and sustainability of European club football.”
To achieve the objective of financial fair play, clubs of a certain size will be requested to balance their books i.e. they will not be allowed to spend more than the revenue they generate. Incentives will also be given to promote and encourage investments for the long-term benefit of clubs, in youth and infrastructure development.
"The huge task that confronts us today in European football with regards to financial fair play requires an equally large personality to tackle it,” said UEFA president Michel Platini. “I am therefore particularly happy to see that for this challenge we are able to attract a person with the quality and background of Mr. Dehaene. As the first chairman of the Club Financial Control Panel, he will set the standard in this area and in so doing will make history. It was crucial to have this new role handled by a man of his capacity and stature."
‘Financial fair play’ is to be integrated within the current UEFA Club Licensing scheme and will be gradually implemented over a three-year period. It is expected to be fully in force by season 2012-13.
The Executive Committee also considered a review of the structure of UEFA’s marketing and commercial operations, creating a new company wholly responsible for all the business and commercial operations of UEFA. David Taylor will be appointed as the Chief Executive of the new UEFA-owned company as of October 1 2009.
