The guiding principle behind UEFA’s decisions in this case is Article 5 of the regulations, which effectively prohibits multiple ownership within the same competition:
To ensure the integrity of UEFA club competitions (namely the UEFA Champions League, UEFA Europa League and UEFA Europa Conference League), the following criteria apply:
No club participating in a UEFA club competition may, directly or indirectly:
- hold or trade in securities or shares of any other club participating in a UEFA club competition;
- be a member of any other club participating in a UEFA club competition;
- be involved in any capacity in the management, administration and/or sporting performance of any other club participating in a UEFA club competition; or
- hold any power in the management, administration and/or sporting performance of any other club participating in a UEFA club competition.
No person may be involved simultaneously, directly or indirectly, in any capacity whatsoever in the management, administration and/or sporting performance of more than one club participating in a UEFA club competition.
No natural or legal person may exercise control or influence over more than one club participating in a UEFA club competition, such control or influence being defined in this context as:
- holding the majority of shareholders’ voting rights;
- having the right to appoint or remove the majority of the members of the club’s administrative, management or supervisory body;
- being a shareholder and, acting alone, controlling the majority of the shareholders’ voting rights by virtue of an agreement entered into with other shareholders of the club;
- or being able to exercise, by any means, a decisive influence over the club’s decision-making process.