How can European professional sports clubs improve their compliance culture?
European professional sports regulators are packing a stronger punch in the enforcement of financial compliance within sports clubs. 2020 has kicked off with unprecedented regulatory enforcement in both rugby and football in particular, but other clubs across various sports are struggling to meet compliance obligations and failing to proactively engage regulators. It is clear that the wider global trend of intensifying regulation has gained traction in the world of sport, and this is unlikely to reverse given public opinion and the potential commercial consequences. The better long-term strategy for sports teams would be to shift into higher gear in their cooperation with their regulator.
To achieve this level of reform in European professional sports, FRA Founding Partner Toby Duthie and Manager Shaf Sohail make a case in the April edition of The Lawyer that there is a role for experienced corporate compliance counsel and forensic advisers to play.