Article 87 Acceptable deviation - Club Licensing

87.01

The acceptable deviation is the maximum possible aggregate football earnings deficit for a licensee to be deemed in compliance with the football earnings rule.

87.02

The acceptable deviation is EUR 5 million. However, the deficit can exceed this level, up to a maximum of EUR 60 million, if such excess is entirely covered by either contributions in reporting period T or equity at the end of reporting period T.

87.03

The acceptable deviation can be further increased by up to EUR 10 million for each reporting period in the monitoring period in which:

1. the licensee has not been subject to a disciplinary measure in respect of the club monitoring requirements;

2. the licensee is not subject to a settlement agreement with the CFCB; and

3. the licensee complies with the following financial conditions as set out in Annex J:

   1. Positive equity;

   2. Quick ratio;

   3. Sustainable debt;

   4. Going concern.

87.04

If a monitoring period comprises a reporting period which is greater or less than 12 months, the acceptable deviation is adjusted up or down according to the number of months in the monitoring period.