Successful launch of Kings Sport Network
18th October 2011
In front of stakeholders from all over the country Kings Sport Network was launched in Manchester on 17 October 2011 with a talk by Dr Nick Braslavsky QC on the much publicised UEFA Club Licensing and Financial Fair Play Regulations. These Regulations impose stringent requirements including an obligation to “break-even” in respect of income and expenditure within a given timescale in an attempt to increase stability for clubs in football and to create a more level playing field.
“At present, UEFA is talking about financial penalties or transfer fee adjustments and seems to be avoiding talking about exclusion or withdrawal. Perhaps this is because UEFA might risk a club seeking redress against it on the grounds of a restraint of trade,” said Dr Braslavsky and added: “Is UEFA really likely to flex its muscles in terms of license revocation or refusal, bearing in mind that the minimum value of a Champions League Group Placement is €30m for a club or are these regulations designed to achieve a less draconian encouragement towards an even playing field? Though financial penalties are not to be scoffed at as a sanction, they fall well short of the drama and significance of licence refusal.”
The Kings Sport Network comprises approximately 90 members including specialist sports law solicitors, representatives of sports clubs including Premiership and Championship football clubs, accountants, insurers, wealth advisors and other sports stakeholders. The launch was also attended by journalists from FC Business and Sport Business International.
Members of the Network were asked whether they believed a more level financial playing field for clubs would be achieved in European competition by 2015. 75% thought that such a result was possible but only 25% considered it to be probable.
Commenting on the launch of Kings Sport Network David Casement QC said: “The strength of the Network and the success of Monday’s launch are credit to the strength of Kings Chambers’ sports law team which has been instructed in some of the most important sports cases in recent years. We speak with expertise and from experience. The feedback in respect of the talk by Nick Braslavsky QC and the Network has been excellent.”
The objectives of Kings Sport Network are as follows:
To provide regular CPD accredited seminars on relevant and topical issues in Sports Law affecting stakeholders;
To increase understanding of the challenges, issues and changing needs facing stakeholders in sport;
To provide a regular forum for discussion and debate for stakeholders in sport.
If you are involved in sports law or the sports industry and are interested in joining please contact our Chief Clerk, Colin Griffin.
Please click here to read an article about the UEFA Financial Fair Play Regulations by Nicholas Braslavsky QC published on 'The Lawyer' website.