Morrow S (2014) Financial Fair Play - Implications for Football Club Financial Reporting. 21 Haymarket Yards, Edinburgh EH12 5BH: ICAS (Institute of Chartered Accountants of Scotland). http://icas.org.uk/Technical-Knowledge/Research/Publications/Financial-Fair-Play---Implications-for-football-club-financial-reporting/
Football activities, both on and of the pitch, are often hitting our news. Despite remarkable revenue growth we have seen numerous well known clubs facing an escalation of player costs, unsustainable debt and clubs suffering financial difficulties, sometimes leading to insolvency proceedings. This has resulted in European football's governing body - UEFA - taking action and introducing Financial Fair Play (FFP) regulations. These regulations are designed to encourage clubs to adopt a more economically rational and sustainable approach to their activities. But will these regulations work and what is the impact on financial reporting for clubs - is the current framework fit for purpose? This report seeks to address these issues through a series of interviews with finance directors at football clubs, football club auditors, football finance experts and representatives of governing bodies and leagues.