The approval of UEFA's Club Licensing and Financial Fair Play Regulations is a major item on the agenda for the latest UEFA Executive Committee meeting at the House of European Football in Nyon on Thursday.

Friday will then see the Executive Committee convene at the Espace Hippomène in Geneva for the final bid presentations for hosting the UEFA EURO 2016 final tournament and the resulting announcement ceremony.

The UEFA Club Licensing and Financial Fair Play Regulations are being put in place as part of a concept aimed at bringing financial well-being to European club football in the coming years. Under the concept, clubs will have to balance their books and operate within their financial means, thereby helping restore stability to the European game.

A Club Financial Control Panel, chaired by former Belgian prime minister Jean-Luc Dehaene, has also been set up to give guidance to clubs over the next two years, once the regulations are public, to allow them to restructure and prepare for when the regulations come into force.

The panel also has the function of helping improve financial fairness in European competitions and of stimulating long-term investment in areas such as youth development and the upgrading of sports installations.

On Friday in Geneva, the three candidates to host UEFA EURO 2016 – Turkey, Italy and France – will make final formal presentations of their bids to the UEFA Executive Committee. Following the presentations, the Executive Committee will gather to deliberate and vote. The announcement of the selected host association will follow directly the voting process at 13.00.

The next scheduled meeting of the Executive Committee is set for 4 and 5 October in Minsk, Belarus.