J.1 Summary of the calculation of the football earnings - Club Licensing

J.1.1

Relevant income is equivalent to the sum of the following elements, as described in Annex J.2 below:

1. Revenue – Gate receipts

2. Revenue – Sponsorship and advertising

3. Revenue – Broadcasting rights

4. Revenue – Commercial activities

5. Revenue – UEFA solidarity and prize money

6. Revenue – Other operating income

7. Net result from non-football activities related to the club

8. Profit on disposal of player registrations and/or income on disposal of player registrations

9. Other non-operating income

10. Finance income

11. Foreign exchange result

Relevant income must be decreased if any of the elements listed in (a) to (k) above include any of the items listed in (l) to (m) below:

l. Non-monetary credits/income

m. Income transaction(s) above fair value

J.1.2

Relevant expenses are equivalent to the sum of the following elements, as described in Annex J.3 below:

1. Costs of sales/materials

2. Employee benefit expenses – players

3. Employee benefit expenses – other employees

4. Other operating expenses

5. Amortisation/impairment of player registrations and/or costs of a player’s registration

6. Loss on disposal of player registrations

7. Amortisation/impairment of release costs for other personnel or release costs for other personnel

8. Other non-operating expense

9. Finance costs

Relevant expenses must be increased if any of the elements listed in (a) to (i) above include the item (j) below, as described in Annex J.3 below:

j. Expense transaction(s) below fair value

Relevant expenses may be decreased if any of the elements listed in (a) to (i) above include the item (k) below, as described in Annex J.3 below:

k. Non-monetary debits/charges

J.1.3

The following items are not included in the calculation of football earnings as described in Annex J.4:

1. Profit/loss on disposal and depreciation/impairment of tangible assets and investment properties

2. Profit/loss on disposal and amortisation/impairment of intangible assets other than player registrations and release costs for other personnel

3. Profit/loss on disposal of investments or subsidiaries

4. Tax income/expense

5. Income and expenses directly attributable to non-football activities not related to the club

6. Credit in respect of a reduction of liabilities arising from procedures providing protection from creditors

7. Financial disciplinary measure imposed by the CFCB or national football association/league