ECA President Nasser Al-Khelaifi gave a speech at the ECA in Istanbul praising the economic changes taking place in the European landscape following the UEFA decision to renew Financial Fair Play: “The new financial sustainability rules are a positive development. The rules control costs. They encourage Investing and new investors. They will help ensure the sustainability of football. But we have to be careful. Dangerous levels of debt and a magical injection of capital is not a sustainable path. We should think in the long term, not the short term. The latter can be considered a message to Barcelona.
Al-Khelaifi also realized that they were considering the possibility of making more use of club competitions, especially the Champions League and the European Super Cup: “The ECA has worked closely with UEFA to coordinate the new men’s tournament after 2024. There will be more exciting matches. The competitions will be more comprehensive. Our income will grow. We have already seen this in France and the United Kingdom. And in the US, our growth exceeded 150% with the sale of rights in Spanish. We plan to work with Paramount+ and all of our media partners and other rights holders on how to reach new audiences, innovate and stay relevant. “
Joint venture with UEFA
In addition, the UEFA President confirmed the agreement they currently have with UEFA that has been renewed, as announced, until 2030: “Our joint project with UEFA is the most important development in European football in recent times. It is based on a relationship of trust and an example of progressive reform. As I said a year ago, it was essential for clubs to build a stronger relationship with UEFA. Our joint venture has been a huge success and today I am pleased to announce that UEFA and the UEFA Association have signed a Letter of Intent to enter into a new Memorandum of Understanding until 2030. This will make our association even stronger: we have rebuilt and formed a union of equals. Clubs are more committed. Clubs have a bigger voice. Our business value has grown. Thank you, Chief Cipheren.”
Al-Khelaifi was the chief guest at the association Stefano Domenicali, CEO of Formula 1: “We really appreciate that you came in the middle of the season between races. I remember the first time we met, your vision, ideas and project inspired me. You have made Formula 1 more than just a sport. You have created a lifestyle and a brand. Entertainment is at the core of everything you do. Formula 1 has an incredible leader‘, tell him.