17 March 2023 - 3:53 PM


Professor at HHL Leipzig Graduate School of Management, Henning Zülch.

Interview: “UEFA has opened a Pandora's box and other non-compliant clubs will invoke this case if they do not follow the playbook”

  • Few details have been reported about the settlement agreement between PSG and UEFA. Full transparency in its decision-making processes would strengthen the legitimacy and acceptance of UEFA’s regulation.
  • ”The lack of transparency of comprehensive financial data in Europe’s football industry remains inherent,” says Henning Zülch, professor at HHL Leipzig Graduate School of Management.
  • Why it matters: The new institutional investors in football won’t accept continued losses at their clubs. In the long-term, they would leave the industry if UEFA doesn’t punish clubs breaching financial regulations.
  • The perspective: Non-compliant behaviour has not been clearly defined, and is formulated far too vaguely in the current financial regulations from UEFA leaving too much to discretion.

Ultimately, UEFA risks seriously sabotaging its own new financial regulation of European football if the governing body fails to show everyone that the new rules must be taken seriously.

Henning Zülch, professor at HHL Leipzig Graduate School of Management, is concerned about the latest development in the financial regulation of European football.

“For the sake of its [the new financial regulation’s] credibility and in order to preserve the legitimacy of the new rules, UEF

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