NYON — UEFA approved new financial monitoring rules for European soccer clubs on Thursday, giving up on “fair play” and lowering expectations it can solve the competitive imbalance in the Champions League.

The “Financial Fair Play” system, known as FFP, will be replaced in June by “Financial Sustainability” regulations.

“Competitiveness cannot be addressed simply by financial regulations,” UEFA project leader Andrea Traverso said at a briefing, adding the words “fair play” had been misinterpreted to mean “we create a level playing field.” “This is why we changed the name,” he said.

By 2025, clubs playing in UEFA competitions will be limited to spending 70% of their revenue on salaries and transfers or face financial and — eventually — sporting sanctions.

After two years of financial penalties, persistent rule-breaking clubs could be barred from selecting certain players in UEFA competitions, have points. — Agencies