MX23RW : Tuesday, September 25 15:34:15

Wolverhampton Wanderers chairman questions FFP rules

Wolves chairman questions FFP rules
© Offside
Wolverhampton Wanderers chairman Jeff Shi suggests that Financial Fair Play rules should be changed to better reflect a club's financial position.

Wolverhampton Wanderers chairman Jeff Shi has suggested that the current Financial Fair Play rules should be changed to better reflect a club's financial situation.

Under current rules, EFL clubs are not permitted to make a loss of £39m over a three-season period, with potential fines and points deductions facing those who fall foul of the limit.

Championship leaders Wolves have racked up spending of £67m since Chinese firm Fosun took over the club in the summer of 2016, although an anticipated promotion to the Premier League this season would eliminate any FFP concerns.

Speaking to the Express & Star, Shi argued that profit and loss is not the best measure of a club's true health, saying: "There's a contradiction behind the rule. It's about how you can't have a huge loss in three years but what's the intention?

"If it's to make a club more stable so you don't go into administration and have enough money to cover costs, then from a financial view profitability is a not a good judgement of that. The better judgement is equity and debt.

"The rule is there and we will try to follow...so far so good, we are complying, but from an investment view it's strange. I have every right to invest more into the club. If you really want to build a truly even field why do the three clubs relegated from the Premier League have so much money from parachute payments? If you want a truly even league they should cut that.

"We are competing with some big clubs who have parachute payments, six or seven in this league. So if we don't put money in, how can we compete? It's restrictive to clubs with ambition. Of course people should be careful with their finances but the rules should changed a bit. I just hope the league have more positive messages to encourage some innovation."

Wolves currently top the Championship standings with a 10-point advantage over third-placed Aston Villa.

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General view inside Wolverhampton Wanderers ground Molineux from 2015
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