A little-known clause in Italian football rules that has kept Serie A clubs in the dark on their finances and how they are run for years has been stripped from a new agreement between the governing body and the league.
The Italian Football Federation (FIGC) agreed to a proposal from the league to give clubs the option of using a supervisory body to oversee the financial management of the club.
The new proposal allows a club to take a similar approach to the Italian Football Association (FIGA) and the UEFA European Football League (EFL) which are the only governing bodies in the European confederation.
The association is the largest club association in Europe and the only confederation to have a governing body.
However, it has faced criticism for the way it has handled financial matters and the way in which it has allowed its clubs to be owned by outside parties.
The supervisory authority would be an independent body that would be in charge of overseeing the club’s financial and legal affairs, with no control over its playing and coaching staff.
In a statement, the FIGC said it is pleased that the proposal has been agreed.
“We are pleased to finally agree to the proposal in a way that makes a clear distinction between the two governing bodies, and in order to make it easier for clubs to take an active role in the development of their clubs and to have the right to take over their own football operations,” the statement said.
It is expected that the new agreement will become part of the next contract signed between the clubs and the FIGS, due in the summer.
The governing body of Serie A is expected to sign off on the agreement before the start of the season.
The league has also agreed to introduce an “open source” approach to financial reporting.
The association will use a “publicly available accounting” system that is open to the public and will be published on its website, as well as the football clubs’ accounts.