Ten years of financial fair play: has it been good for European football?

By Mobolaji Alabi, PhD Candidate, Finance, University of Reading
Adrian R Bell, Chair in the History of Finance and Research Dean, Prosperity and Resilience, Henley Business School, University of Reading
Andrew Urquhart, Professor of Finance & Financial Technology, ICMA Centre, Henley Business School, University of Reading

Even in a sport as old as football, the rules of the game can change. The same is true off the pitch, as with the introduction ten years ago of regulations known as financial fair play.

Designed to ensure that clubs spend within their means, the rules were implemented by Uefa in 2011 to stop European teams from running up huge losses and debts, and encourage…

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