The Professional Football Strategy Council (PFSC) unanimously recommended that UEFA's Executive Committee approve the Financial Fair Play concept at UEFA's upcoming meeting in Nyon in September. The PFSC is composed of representatives from the European Professional Football Leagues (EPFL), the players (FIFPro Europe), the clubs (ECA) and the UEFA vice-presidents.
As UEFA says on its web site: "The main purpose of the Financial Fair Play concept is to improve the financial fairness in European competitions and the long-term stability of club soccer across Europe. In order to achieve this purpose, a set of measures will be put in place including: the obligation for clubs whose turnover is over a certain threshold, over a period of time, to balance their books, or break even, (i.e. clubs cannot repeatedly spend more than the generated revenues); to provide guidance on salaries and transfer spending; to provide an indicator on the sustainability of the levels of debt; and the obligation for clubs to honor their commitments at all times."
These measures aim to encourage long-term investments from clubs instead of speculative and rash spending. UEFA president Michael Platini has championed the principles behind the Fair Play concept, but he also seems to realize that implementing such principles will require much more thorough and detailed standards. "The principle has now been established and this is a major breakthrough," Platini said. "Now we will all have to work hard together over the coming months in order to put in place the all-important detail." As part of its proposals for the 2012/13 season, UEFA plans to introduce a proposal to limit the size of squad's rosters as a way to limit clubs' expenditures on salaries and transfers.