SERIE A - Italian FA sets up spending regulations after pandemic damage
TRANSFERmarketWEB.com
In an attempt to reverse the severe financial issues caused by the coronavirus epidemic, Italian football director Gabriele Gravina claims the country's FA has adopted measures that would prevent clubs from overpaying on transfers.
Gravina told AFP that the football federation (FIGC) has approved a cap on teams' transfer outlays, which prevents them from spending more than their previous season's budget and is intended at addressing "clubs' continuing indebtedness."
"The federation is doing its part by adopting rules which encourage clubs to be more prudent than in the past," Gravina said.
His remarks come after the FIGC estimated last week that the Covid-19 pandemic has caused a billion euro (1.2 billion dollars) drop in Italian professional football revenues, while the country's three biggest clubs — Juventus, AC Milan, and Inter Milan — signed up for the doomed European Super League project on the promise of financial benefits.
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Source: transfermarketweb.com
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