Rangers finance chief clarifies UEFA watchlist fears as he notes FFP standpoint

Rangers finance chief clarifies UEFA watchlist fears as he notes FFP standpoint

Rangers’ finance director, James Taylor, has addressed the club’s position with reference to UEFA’s financial watchlist for European teams.

In 2022, the Glasgow club was included on a list of 19 clubs being monitored by the regulatory body to ensure compliance with financial standards.

Taylor explained in a lengthy interview with podcast Four Lads Had a Dream that it was due to an

Rangers chief makes exciting transfer cash promise as club aim to banish lingering £10m figure

accounting modification that was “well within the rules”. Gers were able to meet their ‘break even’ condition during that campaign,

although UEFA revealed that this was due to Covid measures or positive past results.

Now Taylor has stated that UEFA’s regulations have altered, l

eaving the club in a more comfortable position as he”As a football club, you’re right,

we were on a financial watchlist with regards to UEFA and the CFCB (Club Financial Control Body) in relation to a couple of years ago,

and it was specifically around a particular accounting adjustment,” Taylor was quoted as saying by Four Lads.

“It was completely within the laws, but it was something that was bringing revenue back from a Covid position,

which automatically places you on a watchlist.”That was the case, and I believe UEFA laws are evolving,

and the regulation inside UEFA has changed.

Now, we’d characterize FFP as something similar to UEFA club licencing and supervision. So, from a licensing standpoint,

as long as we have a positive balance sheet – there are a number of other factors that play into it – but from a financial sense,

that would check that box, and we’re satisfied with our balance sheet as it stands today.

“In terms of UEFA monitoring, you mentioned the word ‘concern’,

which I want to make sure doesn’t leave my vocabulary because I need to be on top of these things.

“There are three monitoring pillars, and we are effectively covered by all of them.

The first category is overdue payables,

thus we must verify that no football obligations remain outstanding.

Transfer fees, contingent transfer costs, and so on.

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