The First Chamber of the UEFA Club Financial Control Body has decided in favor of six clubs that may be affected by timeshare cases, admitting their participation in UEFA competitions next season. A situation affecting six clubs: On the one hand the English Aston Villa and Vitoria Sport Club Portuguese. For another Brighton & Hove Albion FC of the Premier and Belgian Royal Union Saint-Gilloise and finally Milan Italian and Toulouse French.
Open procedure due to possible conflict with the multi-club ownership rule provided for in article 5 of the UEFA club competition regulations.
After significant changes by the clubs and their associated investors, the First Control Chamber accepted the entry into the various UEFA competitions for the 2023-24 season.
The control chamber considers that the changes made by the clubs comply with the timeshare rule because a series of requirements are met:
- None of these clubs, directly or indirectly, owns or deals in securities or shares of any other club participating in a UEFA club competition
- No club is a member of any club participating in a UEFA club competition
- No one has power or is simultaneously involved, directly or indirectly, in any capacity in the management, administration or sporting performance of more than one club participating in any of the UEFA club competitions
- 4- No one has control or decisive influence over more than one club in a UEFA club competition.
They limit any influence on the other club
In addition, these changes implemented by the clubs involved affect the ownership, management and funding structure of the affected clubs. Changes that greatly restrict the influence and decision-making power of investors in more than one club, guaranteeing compliance with the rule of ownership of several clubs.
Some of the significant steps taken include “significantly reducing investor ownership in one of the clubs, or transferring effective control and decision-making of one of the clubs to an independent party” as well as ” significant restrictions on the ability to provide funding to more than one club” and the “lack of representation on the board of directors and ability to directly appoint new directors to the board of directors of more than one club”. Finally, in all cases “no capacity to participate in the general meeting or capacity to participate in major decisions such as approving the budgets of more than one club” as well as “no capacity to control more than a club at the level of its board of directors or general meetings through veto rights or contractual agreements entered into with other shareholders.
It is impossible to transfer players
In addition, none of these clubs will transfer players to each other, either permanently or on loan, directly or indirectly, until September 2024, they will not be able to sign any kind of collaboration, or joint technical or commercial agreement, and they cannot use the database. group of scouts or players. Measures that will be subject to the control of this UEFA financial control room.
Source: La Verdad
I am Shawn Partain, a journalist and content creator working for the Today Times Live. I specialize in sports journalism, writing articles that cover major sporting events and news stories. With a passion for storytelling and an eye for detail, I strive to be accurate and insightful in my work.
