{"id":8559,"date":"2016-06-24T14:09:00","date_gmt":"2016-06-24T12:09:00","guid":{"rendered":"https:\/\/cdes.fr\/?p=8559"},"modified":"2022-06-27T17:35:39","modified_gmt":"2022-06-27T15:35:39","slug":"actu-economie-uefa-evolution-regulation-financiere","status":"publish","type":"post","link":"https:\/\/cdes.fr\/?p=8559","title":{"rendered":"ACTU | \u00c9CONOMIE : L’UEFA fait \u00e9voluer sa r\u00e9gulation financi\u00e8re"},"content":{"rendered":"\t\t
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Apr\u00e8s une mise entre parenth\u00e8ses durant la p\u00e9riode covid et alors que de nombreuses questions se posaient quant \u00e0 une nouvelle \u00e9volution, l\u2019UEFA a finalement d\u00e9cid\u00e9 de remplacer le fair-play<\/em> financier par de nouvelles r\u00e8gles de durabilit\u00e9 financi\u00e8re. Ces nouvelles r\u00e8gles s\u2019appliqueront \u00e0 tous les clubs qualifi\u00e9s pour l\u2019une des trois comp\u00e9titions de l\u2019instance europ\u00e9enne.<\/p>

Elles reposent sur trois piliers : stabilit\u00e9 financi\u00e8re, solvabilit\u00e9 et ma\u00eetrise des co\u00fbts.<\/p>

Solvabilit\u00e9 et stabilit\u00e9<\/strong><\/span><\/h1>

Le premier pilier (solvabilit\u00e9 \u2013 no overdue payables<\/em>) pr\u00e9voit une borne de retard des paiements dus aux autres clubs, aux employ\u00e9s, aux autorit\u00e9s publiques (imp\u00f4ts et taxes) ou vis-\u00e0-vis de l\u2019UEFA, de 15 jours maximum. Il est pr\u00e9cis\u00e9 que tout retard de paiements de plus de 90 jours sera consid\u00e9r\u00e9 comme un facteur aggravant pouvant d\u00e9clencher des sanctions. Le second pilier (stabilit\u00e9 \u2013 football earnings rule<\/em>) g\u00e9n\u00e9ralise un principe comptable de bonne sant\u00e9 financi\u00e8re, les investissements dits de structure doivent \u00eatre r\u00e9alis\u00e9s avec des fonds propres existants et non une dette de court terme. Selon cette r\u00e8gle, l\u2019UEFA effectuera une comparaison entre revenus et d\u00e9penses pertinents. Les revenus pertinents int\u00e8grent l\u2019ensemble des revenus d\u2019exploitation habituels (droits audiovisuels, billetterie, revenus commerciaux, merchandising<\/em>, dotations de l\u2019UEFA) mais aussi d\u2019autres revenus (revenus financiers, revenus non li\u00e9s au football, etc.) ou encore les plus-values de cessions de joueurs. Les d\u00e9penses pertinentes, de leur c\u00f4t\u00e9, int\u00e8grent la masse salariale de tous les employ\u00e9s, les d\u00e9penses d\u2019organisation des activit\u00e9s, les co\u00fbts de location (stade par exemple), les frais financiers, les dotations aux amortissements des transferts de joueurs.<\/p>

Notons que la notion de valeur de march\u00e9 pour certains contrats (sponsoring<\/em> notamment), d\u00e9cri\u00e9e par certains acteurs, reste en vigueur. D\u00e9sireuse de responsabiliser les clubs face \u00e0 leurs investissements, l\u2019UEFA d\u00e9finit en parall\u00e8le des crit\u00e8res de d\u00e9duction de certaines d\u00e9penses d\u2019investissement (formation, d\u00e9veloppement du football f\u00e9minin ou projet de stade) dans les cas o\u00f9 celles-ci auraient \u00e9t\u00e9 financ\u00e9es directement via<\/em> des fonds propres ou des apports d\u2019associ\u00e9s qui ne servent pas d\u00e9j\u00e0 \u00e0 compenser le d\u00e9ficit.<\/p>

L\u2019UEFA continuera de tol\u00e9rer un d\u00e9ficit pour un total de 60 millions d\u2019euros sur une p\u00e9riode de 3 ans (contre 30 millions d\u2019euros sur 3 ans avec les r\u00e8gles pr\u00e9c\u00e9dentes du fair-play<\/em> financier). Les clubs en bonne sant\u00e9 financi\u00e8re se verront allouer un \u00ab bonus \u00bb de 10 millions d\u2019euros par an, portant l\u2019\u00e9cart maximum \u00e0 90 millions d\u2019euros. La contre- partie de cet \u00e9cart acceptable sera que celui-ci soit compens\u00e9 soit par des contributions d\u2019actionnaires (comptes courants) soit par des augmentations de capital.<\/p>

Ma\u00eetrise des co\u00fbts<\/strong><\/span><\/h1>

Enfin, le troisi\u00e8me pilier (ma\u00eetrise des co\u00fbts \u2013 squad cost value<\/em>) est bien connu des suiveurs du championnat fran\u00e7ais puisqu\u2019\u00e0 l\u2019image des nouveaux ratios mis en place par la DNCG, l\u2019UEFA demandera \u00e0 ce que les d\u00e9penses de salaires (joueurs et entra\u00eeneur principal), les dotations aux amortissements de transferts et les honoraires d\u2019agents n\u2019exc\u00e8dent pas 70 % des revenus op\u00e9rationnels et des recettes nettes de transferts.<\/p>

Trois saisons sont laiss\u00e9es aux clubs avant d\u2019atteindre l\u2019objectif de 70 % du squad cost control<\/em> : ce ratio ne devra pas d\u00e9passer 90 % \u00e0 l\u2019issue de la saison 2023-2024, 80 % en 2024-2025 et enfin 70 % en 2025-2026.<\/p>

Pouvoir de sanction<\/strong><\/span><\/h1>

L\u2019application de ces trois r\u00e8gles ambitieuses sera contr\u00f4l\u00e9e par le Club Financial Control Body<\/em> (CFCB), organe dot\u00e9 d\u2019un pouvoir de sanction. Si l\u2019UEFA fait mention d\u2019un cata- logue de sanctions \u00e0 appliquer, il n\u2019a cependant pas \u00e9t\u00e9 pr\u00e9cis\u00e9ment communiqu\u00e9. La r\u00e8gle concernant les impay\u00e9s entre clubs, pr\u00e9-existante au fair-play<\/em> financier, sera renforc\u00e9e. La r\u00e8gle concernant la stabilit\u00e9 (football earnings<\/em>) pourra faire l\u2019objet d\u2019am\u00e9- nagements et de n\u00e9gociations entre les clubs et le CFCB (donnant lieu \u00e0 la signature d\u2019accords de r\u00e8glement). Enfin, les \u00e9ventuelles sanctions concernant le non-respect de la r\u00e8gle de la ma\u00eetrise des co\u00fbts (squad cost value<\/em>) seront progressives et bas\u00e9es sur l\u2019ampleur du d\u00e9passement constat\u00e9 sur une p\u00e9riode de quatre ans.<\/p>

Florent BERGMANN<\/a><\/h4>

[https:\/\/editorial.uefa.com]<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

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