October 7, 2022

“Magic equity deals are not a sustainable path”

Madrid (EFE).- The president of the European Association of Clubs (ECA), Qatari Nasser Al-Khelaïfi, assured that “the new financial sustainability rules are positive progress”, but warned that “the dangerous levels of debt and magic stock deals are not a sustainable path.”

“Standards control costs. They encourage investment and new investors. They will contribute to the sustainability of football. But we must be careful; dangerous levels of debt and magic stock deals are not a sustainable path. We need to think long term, not short term,” he said at the body’s 28th General Assembly in Istanbul.

The President of the European Association of Clubs (ECA), Qatari Nasser Al-Khelaïfi. EFE/EPA/Christophe Petit Tesson/Archive

Al-Khelaifi reviewed the objectives the ECA set as priorities in the Assembly a year ago, including financial stability, strengthening its relationships, enhancing benefits for its members, diversity and inclusion, and renewing the collective spirit and values.

“We shouldn’t focus on the past, but people shouldn’t forget where we came from a year ago. Some people tried to separate us. However, with the new ECA we are more creative, more collective, more connected. We talk, we share ideas, we listen and the ECA is stronger than ever,” he said.

The PSG chairman also welcomed the “trust” relationship with UEFA and announced the signing of a letter of intent to sign a new memorandum of understanding until 2030.

“It will make our association even stronger: we have rebuilt and formed an association of equals. The clubs are more involved. The clubs have more voice. Our commercial value has grown,” he noted after thanking UEFA president, Slovenian Alexander Ceferin.

Al-Khelaifi stressed the clubs’ cooperation in the new format of European competitions from 2024, which will be “more exciting, more inclusive” and increase their revenues.

“We’ve already seen it in France and in the UK. And in the United States, our growth is over 150%, while the Spanish rights have yet to be sold. We plan to work with Paramount+ and the rest of our media partners and rights holders to reach new audiences, be innovative and stay relevant.”

A fair distribution of income and the search for “new business models in the digital sphere, technology, entertainment and the metaverse”, along with diversity and inclusion were other priorities Al-Khelaifi set for the ECA, which will open its doors next year. to become women’s clubs.

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