UEFA relaxes Financial Fair Play rules for 1 season due to COVID-19 crisis

UEFA is loosening Financial Fair Play regulations and giving clubs a break because of the economic fallout from the coronavirus pandemic.

Under the original rules, teams participating in European competition were forbidden from posting losses of more than €30 million over a three-year period. But UEFA decided Thursday to give clubs an extra year to show they're within the guidelines.

In a statement, the governing body said the "assessment of financial year 2020 is postponed for one season and will be assessed together with the financial year 2021."

Revenue is expected to take a big hit over the next few months. Matchday revenue has already fallen dramatically, with games being postponed and eventually played behind closed doors. Players across the European leagues agreed to slash their salaries as a result of the recent work stoppage.

However, the new measures don't preclude clubs already charged by UEFA from punishment. Marseille are still at risk of a ban from European competition for breaking an agreement to balance their books. Manchester City, meanwhile, have been kicked out of the Champions League for two seasons, pending an appeal in the Court of Arbitration for Sport.