The UEFA Club Financial Control Body (CFCB) announced on Friday that it has given the green light for several teams to participate in next season’s competitions.
This comes after the European soccer governing body decided to loosen its regulations on multi-club ownership. Aston Villa, Vitoria Sport Clube, Brighton, Royal Union Saint-Gilloise, AC Milan, and Toulouse were all under investigation for potentially violating the multi-club ownership rule.
RedBird Capital Partners holds the majority ownership of Milan and Toulouse, while Nassef Sawiris and Wes Edens, the owners of Aston Villa, have a share in Vitoria. Tony Bloom, the owner of Brighton, also has a stake in Royal Union Saint-Gilloise.
“Following the implementation of significant changes by the clubs and their related investors, the CFCB First Chamber accepted the admission of the aforementioned clubs to the UEFA club competitions for the 2023-24 season,” UEFA said.
“The CFCB found that the significant changes implemented brought the clubs into compliance with the multi-club ownership rule.”
According to the regulations, it is prohibited for any club to possess or trade securities or shares of another club that is involved in UEFA competitions. Additionally, a club cannot be a member of another club participating in UEFA competitions.
Moreover, an individual is not allowed to be simultaneously engaged in the management, administration, and/or sporting performance of any club, and they must not have any control or significant influence over more than one club.
“More specifically, the significant changes that were implemented relate to the ownership, governance and financing structure of the concerned clubs,” UEFA added.
“These changes substantially restrict the investors’ influence and decision-making power over more than one club, ensuring compliance with the multi-club ownership rule.”
“Some of the significant actions taken include significant reduction of the investors’ shareholding in one of the clubs, or transfer of the effective control and decision making of one of the clubs to an independent party (and) significant restrictions in the ability to provide financing to more than one club.”
The clubs are prohibited from permanently or temporarily transferring players to one another until September 2024, and they are also not allowed to share scouting databases.