Analysis of The Implementation of UEFA Financial Fair Play: A Case Study on Arsenal and Machester United Football Club


  • Sendy Sendy Bina Nusantara University
  • Gatot Soepriyanto Bina Nusantara University
  • Nuraini Sari Bina Nusantara University



financial statements, Arsenal, Manchester United, UEFA Financial Fair Play


This study aims to analyze the implementation of UEFA Financial Fair Play (FFP) to European football clubs. Research is conducted based on Arsenal and Manchester United football clubs financial statements for 2010-2012. The study uses financial simulation to test whether the two England-based club are able to meet the UEFA FFP rules. Analyses were also conducted on the financial performance ratios of both clubs and their effects on the implementation of the UEFA FFP. The result is the two clubs can meet the standard provisions for the implementation of UEFA FFP. In the assessment of financial performance, Arsenal have a slightly better financial ratios than Manchester United. Performance aspects of profitability and solvency became an issue in the implementation of UEFA's FFP, related with debt holdings and high salaries that owned by both clubs.


Plum Analytics

Author Biographies

Sendy Sendy, Bina Nusantara University

Accounting and Finance Department

Gatot Soepriyanto, Bina Nusantara University

Accounting and Finance Department

Nuraini Sari, Bina Nusantara University

Accounting and Finance Department


Arsenal Official Site (2012). Financial Report. Diakses 20 Desember 2012 dari

Hamil, S., Chadwick, S. (2010). Managing Football: An International Perspective. Burlington:

Elsevier Ltd.

Kieso, Donald E., Weygandt, Jerry J., Warfield, Terry D. (2008). Intermediate Accounting 12th

Edition. International Student Version. John Wiley & Sons. Norwalk. Connecticut.

Manchester United Official Site (2012). Manchester United Investor Relations. Diakses Desember


UEFA Communications Divisions. (2012). Financial Fair Play. Media Information. Switzerland.

UEFA. (2012). UEFA Club Licensing And Financial Fair Play Regulations. Switzerland.

Vöpel, H. (2011). Do We Really Need Financial Fair Play in European Club Football? An Economic

Analysis. Research Reports.



Abstract 1676  .
PDF downloaded 1237  .