Doha, - The Qatar Stars League, in cooperation with the QFA have hosted a workshop explaining the new Financial Control Regulations, which are set to be implemented in time for the start of the 2017/2018 QSL season.
The workshop was attended by Hani Ballan, Member of the QFA Executive Committee and the CEO of the Qatar Stars League, alongside a number of QFA and QSL officials as well as the clubs representatives.
It aimed at introducing and interpreting new financial control regulations. The QFA and QSL officials demonstrated detailed presentation explaining these regulations as well as responding to the queries by the clubs representatives.
The QSL has been eager to place increasing financial responsibilities onto the clubs in recent years, and the new regulations will now ensure that all clubs within the state of Qatar will now have to formally comply.
In order to ensure the financial stability of the clubs and within the framework of the efforts of the Ministry of Culture & Sports, the QFA and the QSL, a mechanism has been developed to tackle the challenges in clubs, some of which require radical change in regards to the transfer of players, league registration and agreements of contracts with club coaches.
The new regulations stipulate comprehensive control and monitor over the expenditures of players and coaches since the very beginning until the end. Noting that these regulations limit annual clubs' losses and debts. The regulations also come in the interest of financial balance; however the clubs are required to focus more on spending and incomes.
The new financial regulations for the clubs which were drafted by the Ministry of Culture and Sport, the QFA and the QSL, will set new mechanism for the implementation of clear procedures within the clubs with the support and guidance to be presented by the QFA and the QSL.
The new financial regulations put the responsibilities on the clubs with the objective of developing their potential in terms of contracts or negotiations with other clubs, intermediaries or players in order to preserve and protect their rights. In addition, this helps the clubs to comply with and respect their contractual obligations with the players and coaches.
It was reiterated during the workshop that responsibility and financial control are a key element in the club's access to the AFC license. Moreover, the new financial regulations provide a framework for the teams to encourage club management to focus on their financial measures.(QNA)
Source: Qatar News Agency