The new competition regulations of the UEFA they demand that Girona i Manchester City prove the June 3 that fulfill the timeshare normto eliminate a potential conflict of interest and prevent any natural or legal person from having control or “decisive influence” and agree on the next one Champions League.
A document from the UEFA Club Financial Control Committee (CFCB) explains the multi-ownership rule (MCO) contained in Article 5 of the competition regulations; and points out that if there is doubt about its compliance, the case will be studied by this body, which will decide on the admission to the competitions of the clubs involved.
Rights of shareholders or partners, financial support, governance and transfers
The same establishes some clarifications on the meaning of “decisive influence” in accordance with four criteria: through the rights of shareholders or partners; through financial support; through governance; or through player transfers. Aspects, so that the clubs involved can play the same competition, like Girona which is owned by the City Group.
The CFCB considers decisive influence through shareholder rights if a party owns 30% or more of the club’s total shares, voting or economic rights of shareholders or members.
Also if a party owns 10% or more of the total shares of the club, the voting or financial rights of the shareholders or members and is also the largest shareholder of the club.
Influence means financial support if a part represents 30% or more of the club’s total operating income; if it lends an amount equivalent to 30% or more of the total loans to related parties; if it provides you with financial support in the form of additional paid-up capital or a financial guarantee on loans.
Decisive influence through governance refers to the presence in the governing bodies of one of the parties and its decision-making capacity, or that it owns 30% or more of the economic voting rights.
And the heading referring to player transfers points out that for the avoidance of doubt, clubs subject to MCO procedures before the First Chamber of the CFCB will not have the right to transfer, permanently or temporarily, new players to each other, directly or indirectly through of related parties, during the competition season or during the first transfer window immediately following.
If one or more of these indicators are activated, the First Chamber of the CFCB considers that a party has the capacity to exert a decisive influence on the decision-making of a club, which implies that one will be relegated from the competition.
Temporary exception for the next season
However, UEFA contemplates a temporary and exceptional alternative only for the next season in the face of non-compliance with the last three indicators, given the short margin of time between the approval of the competition regulations and the date of 3 June.
According to the document, “this alternative will consist of the transfer or assignment of all your shares in a club to an independent third party, such as a blind trust, under which all club decision-making will fall exclusively under the control of the third party/trustee, who will be bound by the fiduciary duty to act exclusively in the best interest of the club”.
“It is understood that, in these cases, the First Chamber of the CFCB will supervise the creation of the independent structure to ensure that it complies with the MCO standard,” he adds, while noting that the indicators may be reviewed in subsequent seasons in accordance with the possible evolution of the MCO rule in the next editions of its participation regulations in its club competitions.
2024-05-14 18:08:31
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