AS Roma’s Settlement Agreement and UEFA’s Financial Sustainability Framework

By  Luca Ferrari, the Global Head of Sport at international law firm Withers, and associate Alessia Murgia. The COVID-19 pandemic fundamentally affected the financial landscape of European football. With revenues reduced and transfer profits declining, clubs were often unable to cope with persistently high running costs, especially player wages. Against this backdrop, UEFA revised its previous financial fair play framework, introducing a two-pronged system based on a set of interconnected rule