UEFA GROW SUPPORTS ASSOCIATIONS WITH NEW FINANCE MANAGEMENT PILLAR

At a time when member associations' finances are facing more challenges and adjustments than ever, UEFA Grow has staged an Executive Finance Essentials course, as well as holding meetings for national association finance directors across Europe.

The plan is not that you have to be finance experts at the end of this seminar - it is more important that you know the basics and especially that you have an understanding of the key points to look out for in your national associations' financial statements and planning in order to ask the right questions," said UEFA's finance director, Josef Koller, at the beginning of the first webinar of UEFA Grow's three-part Executive Financial Essentials course in September.

The central aim of the course was to provide national associations' board members, general secretaries and senior leaders with a better understanding of financial figures and reporting - of particular importance today given the need for informed strategic decision-making in the face of the COVID-19 pandemic.

Staged across three interactive lunchtime sessions, the course formed a key part of UEFA Grow's new finance management pillar alongside a series of regional finance director meetings which have taken place across Europe, the first of them for the Nordic associations in late May. Good governance and financial sustainability are core goals of the Grow strategy and with these meetings UEFA is seeking to understand the particular challenges faced by national associations at this unprecedented time, as well as to highlight best practices.

Fundamentals of finance

UEFA's Grow team put in place the Executive Finance Essentials course with the guidance and support of Francesc Solanellas, a professor of sports management from the National Institute of Physical Education and Sport of Catalonia (INEFC). The UEFA Academy, the finance division and the finance directors of UEFA's member associations also collaborated in a shared effort to address the not-uncommon scenario of national association staff leaving finance to financial experts because of its perceived complexity. The new course offering case studies from finance directors at national associations around Europe - has given participants the chance to gain a grounding in the fundamentals of finance, particularly those executives, board members and senior management previously lacking experience in this field.

All national associations were invited to send up to four elected or appointed members of their leadership team (executive committee members, president, general secretary or deputy general secretary) and around 150 people joined Josef Koller for the first two-hour webinar on 9 September, which offered an 'Introduction to finance, annual financial reports and auditing'. That introduction came from Solanellas, with case studies following from Portugal and the Czech Republic. For participants, there was a Q&A with each speaker involved, and the feedback was highly positive, with 96% of those taking part declaring themselves "very satisfied".

The second webinar, a week later, addressed the topics of 'Financing your strategy, budgeting and forecasting', while the third and final session, on 30 September, considered 'Financial risk assessment and contemporary financial challenges for national associations'. The fact the webinars were recorded means they are available to national associations' executive committees and staff as well as affiliated regional associations, to share best practices wider.

'Facts behind the figures'

Reflecting on the significance of the seminars, Josef Koller said: "Finance is a key area in any kind of business organisation, so I am pleased to see so many members of national associations interested in building a solid grounding in the fundamentals of finance, which will support them in building up their skills to find the facts behind the figures and make more informed financial decisions."

In tandem with the Executive Finance Essentials course, UEFA Grow also held a number of regional finance director meetings during the past quarter. These represent an opportunity to get to know other finance directors and to become more involved in UEFA's strategic planning. For UEFA's Grow team, it is a chance to understand better the current financial situation in each country and the particular challenges that the pandemic has brought in different regions.

Nordic meeting first

Denmark, the Faroe Islands, Finland, Iceland, Norway and Sweden were the countries involved in the first meeting for the Nordic finance directors on 21 May. The meeting agenda included assessing the financial profile of each association involved and discussing the effects of COVID-19 and the actions put in place in response.

A month later, on 23 June, it was the turn of the Anglophone finance directors -England, Northern Ireland, the Republic of Ireland, Scotland and Wales - with the western finance directors' meeting following on 14 August for Belgium, France, Germany, the Netherlands, Portugal and Spain.

'Exchange and share knowledge' Speaking after this last-mentioned meeting, Ron Francis, finance director of the Royal Netherlands Football Association, said: "It is the very first time that the finance directors of the western region have met together. This great initiative from UEFA Grow to connect the different finance directors has allowed us to exchange and share our knowledge for the benefit of European football."

The latest meeting, on 18 September, covered the central region, with directors from Austria, the Czech Republic, Hungary, Italy, Poland, Slovakia and Switzerland all attending. Next up are meetings for the eastern and southern regions, with the Grow team working to ensure this opportunity is available to finance directors across the length and breadth of the continent.

Source: UEFA Direct (eng)

UEFA Direct (french)

UEFA Direct ( german)