Italian FA chief says curbing transfer excesses after pandemic damage
Rome: Italian football chief Gabriele Gravina says the country’s FA has approved regulations that will stop clubs from overspending on transfers in an attempt to reverse the deep financial problems exacerbated by the coronavirus pandemic. In an interview with AFP, Gravina said the football federation (FIGC) has given the green light to a ceiling on clubs’ transfer outlays which stops them spending more money than their previous season’s budget and is aimed at tackling “the continued indebtedness of clubs”. “The federation is doing its part by adopting rules which encourage clubs to be more prudent than in the past,” Gravina said. His comments come after the FIGC estimated last week that the Covid-19 pandemic has caused revenues in Italian professional football to plunge by a billion euros ($1.2 billion), while the country’s three biggest clubs — Juventus, AC Milan and Inter Milan — signed up to the ill-fated European Super League project on the promise of financial advantages. “The Super League is the wrong answer to a real problem: to make European football more competitive, we need to create more stability,” Gravina said. – AFP