Press Release from Supporters Direct
Supporters Direct welcomes today’s (April 25th) agreement by the Football League and its clubs for the introduction of a Financial Fair Play framework and continuation of the Salary Cost Management Protocol, which will operate in the Championship, League One and League Two from the beginning of the 2012/13 season.
The framework aims to: “reduce the levels of losses being incurred at some clubs and, over time, establish a league of financially self-sustaining professional football clubs.” In the Championship, clubs have used UEFA’s Financial Fair Play Regulations as the basis for a break-even approach, whilst Leagues One and Two will adhere to the Salary Cost Management Protocol.
Tom Hall, Head of Policy and Development at Supporters Direct, said: "Since 1992, there have been 92 insolvencies in the top five divisions of English football. This framework represents a necessary step in combating the financial difficulties that have become all too common throughout the pyramid."
In a time of continuing economic uncertainty, it is essential that football adopts more responsible business practices, and embraces good governance, in order to preserve clubs as valuable community assets. Supporters Direct therefore commends the Football League and its member clubs for agreeing this framework, and looks forward to the continued development of a more sustainable game; in the UK and Europe.
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