Hello, hello everybody and welcome to soccer 101.

My name is Taylor Rockwell, and this week we're talking about everyone's favorite podcast topic, complex financial regulations.

Graham Ruthven, how excited are you to be here today?

Oh, so excited, Taylor.

There is one thing I got into this business for of football content creation.

It was spending at least half an hour talking about financial

regulations in the Premier League. Yeah, that's what I love for. It's what everyone loves.

It's the X's and the O's, and then the dollar signs or pound signs or whatever, what have you.

We are going to talk about PSR, specifically profit and sustainability rules. We'll talk about

some other aspects of financial regulation in the world

of football as well. But, Graham, we hear about PSR all the time, especially more recently with

clubs skirting financial rules or failing to skirt them and getting points deductions and the like.

But let's go with the basic starting point. What are PSR rules? Yeah, so first of all,

PSR rules. I know, I find that difficult as well. Everything within me wants to say PSR rules,

but it's a bit, it's a little bit like the ATM machine. Yeah, ATM machine, exactly,

exactly the same principle. So PSR, we hear about it all the time. Now, it's become such a key

part of the soccer lexicon, especially when it comes to transfers. So we did our transfers update

episodes last week. We mentioned PSR a bunch of times. And yeah, it's just become this thing that

has reshaped soccer in a way that I think it's surprised people. I kind of

wonder if it's surprised a lot of the clubs that have voted this through, that it has reshaped

football to such an extent. And obviously we had FFP, which we'll talk more about that later on,

we've had FFP for a long time. But yeah, PSR has become this big thing in English football.

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