TSG welcome Financial Fair Play reforms

For example, the guidelines co-developed by the European Club Association (ECA) stipulate that clubs will not be allowed to spend more than 70 percent of their revenues on transfers, wages and agent fees. In addition, the possibility of external investors compensating for any losses will remain capped. In future, a catalogue of automatic penalties will be used to sanction clubs that violate these rules in order to ensure fair competition.

"We welcome the framework set for European club football," TSG managing director Frank Briel said about the decisions made on 7 April. "We have long since declared sustainability in all dimensions – sporting, financial, environmental and social – to be an essential part of our club's future strategy. In recent years, in an extremely competitive environment, we have impressively managed to strike a balance between these conflicting priorities. It remains our obligation to maintain this balance in order to lead TSG into the future in a stable position."