Inter Media and Communicationthe company that brings together the media and sponsor revenues of the Nerazzurri, has released the results for the half-year ended 31 December 2021. Among the interesting aspects of the document there is also one related to Financial Fair Play, the set of UEFA regulations which regulate the participation of clubs in European competitions at an economic and financial level.
Inter Financial Fair Play Proceedings – The club note
«In October 2021, we submitted to UEFA our calculations relating to the break-even requirement for Financial Fair Play (“FFP”) as of 30 June 2021. These calculations have shown that we have not met the break-even requirement as currently established, and consequently , UEFA requested further information in November 2021», Reads the document of the Nerazzurri club.
«December 17, 2021 – Inter continues – UEFA has officially announced that the CFCB Section One’s review of the break-even requirements provided by us revealed a significant aggregate deficit for the monitoring period covering the reporting periods 2018, 2019, 2020 and 2021 and required the presentation of the our most up-to-date break-even information expected for the reporting period ends in June 2022 (which we provided on January 20, 2022)».
«On 14 February 2022, UEFA informed us:
- their decision to initiate proceedings against our club in accordance with Article 12 (1) of the procedural rules governing the financial control of UEFA clubs;
- the appointment of a rapporteur member to establish the facts and gather all relevant evidence (including a business plan for the period FY23-FY25) pursuant to Article 12 (2) of the Rules of Procedure;
- the invitation to participate in a hearing before the CFCB First Chamber in March 2022 (date to be confirmed) at the House of European Football in Nyon (Switzerland), once the reporting member has issued his or her conclusions on the case of our club».
Inter Financial Fair Play procedure – The rules for the Covid seasons
The reporting period indicated by Inter refers to the new rules established by UEFA for Financial Fair Play following the outbreak of the Coronavirus emergency. How emphasized at the time by UEFA itself“The monitoring period evaluated in the 2021/22 season covers the following reporting period:
- the reporting periods ending in 2020 and 2021 which will be treated as a single period (considered as reporting period T), and
- the reporting period ending in 2019 (considered as reporting period T-1) e
- the reporting period ending in 2018 (considered reporting period T-2) “.
In practice, UEFA has modified the now known system which provides for the analysis of the accounts on the three seasons prior to the current one to establish compliance with the parameters set by Financial Fair Play. The European Football Association thus limited the analysis for 2020/21 to two seasons (2017/18 and 2018/19), extending the analysis for 2021/22 to four seasons, to prevent Covid from blowing the bank.
For the current season, in fact, in order to define compliance with the break-even rule, the 2017/18 and 2018/19 seasons were again taken into consideration, to which were added those affected by the health emergency (2019 / 20 and 2020/21), but with an important detail.
In the event of a deficit, the deficits at June 30, 2020 and al June 30, 2021 they are added together and then divided in half, to relieve the clubs that can thus try to fall within the parameters in a simpler way.
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