Abramovich must cut back, says UEFA finance guru
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UEFA approve plans to ban English clubs from Champions League if they don't control spending
Suits you: UEFA president Michel Platini (centre) with Bordeaux boss Laurent Blanc
UEFA have approved plans to bar high-rolling Barclays Premier League clubs from the Champions League if they spend beyond their means.
Michel Platini has got his way on 'financial fair play' rules that in principle will ban clubs from spending more than they make from their revenues.
The aim is to end the trend of rich owners buying into the game and transforming the fortunes of a club, as has been the case at Chelsea under Roman Abramovich Manchester City under Abu Dhabi billionaire Sheik Mansour.
Manchester United, Liverpool, Chelsea and Arsenal kick off the group stages of the Champions League this week knowing they will be under more scrutiny from 2012-13, thanks to the decision by the UEFA executive committee.
Platini, president of European football's governing body, has been accused of particularly trying to break England's dominance in Continental competitions.
The new rules would also be applied to the Europa League and across clubs from all associations.
"We don't want to kill or hurt the clubs, on the contrary we want to help them in the market," said Platini.
Own ideas: Premier League chief executive Richard Scudamore
"The teams who play in our tournaments have unanimously agreed to our principles. "The owners are asking for rules because they can't implement them themselves, many of them have had it with shovelling money into clubs and the more money you put into clubs, the harder it is to sell at a profit."
UEFA believe current levels of spending cannot be sustained, but their new rules will only be applied to their competitions rather than domestic championships.
The Premier League have agreed new financial reporting methods that will help to monitor when clubs might be hitting trouble.
There will even be powers for the League to veto transfers if the board do not feel they are viable. But linking expenditure to income, as with the UEFA plan, has been rejected.
Chief executive Richard Scudamore said: "Clubs will all have to annually submit accounts and future financial information.
"At all times the board of the Premier League will be applying a test which basically says this: can the club fulfil its fixtures, pay off its creditors when they are due and also to meet obligations to the Premier League's contracts and partners?
"If the board believe a club is at risk of not meeting those obligations, it has to then step in and agree a budget for the running of that club. Any transfers can be embargoed.
"It's absolutely crucial that these clubs are run as ongoing viable concerns. These financial rules apply immediately.
"This is tied in, and we passed the rule during the summer, to a 'fit and proper person test'. At our club meeting last week, the clubs absolutely endorsed our position of not linking expenditure to income."
The Premier League rules will be applied immediately. Clubs must submit independently audited accounts to the Premier League by 1st March each year with requirements to note any material qualifications or issues raised by auditors.
There will also be a requirement for clubs to submit future financial information to the Premier League by 31st March each year. This will act as an improved early warning system should any club take undue financial risks which may have consequences for future financial stability.
Clubs will also have to demonstrate to the Premier League Board that they do not have outstanding debts to other clubs.
UEFA have appointed former Belgian Prime Minister Jean-Luc Dehaene to lead its campaign to control excessive spending by Europe's top football clubs.
Dehaene, who led Belgium's government from 1992-99, will be the chairman of UEFA's Club Financial Control Panel.
The panel will monitor the accounts of clubs which play in the Champions League and Europa League. It will include about nine experts who are independent from clubs or leagues.
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2 words: Real Madrid
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I think ronaldo's 80m pounds can buy all the league clubs in SE Asia?
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technically, i don't think ManCity spend beyond their means.. the owners have 100Billions, and they spend less than 200M, is that overspending???
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what about real madrid and juventus spendings?
arsenal spend like 10mil only?
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Originally posted by Cries:
what about real madrid and juventus spendings?
arsenal spend like 10mil only?
err... Platini can only address one nation at one time, else he will lose his head.
and his favorite is UK!!
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so damn unfair la.. why UEFA is only targetting BPL clubs all this while? seems like only BPL is getting all this hype. what abt real madrid? no one gonna make noise abt them? zzz
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whatever is the clubs spending, the fans spent the most
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technically, i don't think ManCity spend beyond their means.. the owners have 100Billions, and they spend less than 200M, is that overspending???
what UEFA means the clubs must be able to balance the spending and revenue of the clubs. this has nothing to do with the who own the clubs and how rich it is.
if man city spent 200 million but if their revenue doenst justify what it has spent, they would be penalised. this would force the club to build up its fan base, generate profits and step up its own marketing effort.
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so damn unfair la.. why UEFA is only targetting BPL clubs all this while? seems like only BPL is getting all this hype. what abt real madrid? no one gonna make noise abt them? zzz
once this rule go thru, real madrid also no horse run.
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You Lie!
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Oops! those EPL rich owners forget UEFA,,,..dun worry, when those rich EPL owners do some charity gift to UEFA, i think all things can be settle.
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Originally posted by reyes:
what UEFA means the clubs must be able to balance the spending and revenue of the clubs. this has nothing to do with the who own the clubs and how rich it is.
if man city spent 200 million but if their revenue doenst justify what it has spent, they would be penalised. this would force the club to build up its fan base, generate profits and step up its own marketing effort.
okay..
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so.. real madrid spend very little?
they have always been spending like free $$
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this is bullsh*t, obviously they dont want english clubs to rule in e champion league
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ang moh FA so messed up. Watch S-League at your nearest stadium more better
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last time i paid $5 to watch S league, end up sleeping on the bench...
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Originally posted by angel7030:
last time i paid $5 to watch S league, end up sleeping on the bench...
I guess you guys dunnoe how to appreciate our s-league games. Besides it about supporting our local football scene too. -
Originally posted by *=Optimus=*:
I guess you guys dunnoe how to appreciate our s-league games. Besides it about supporting our local football scene too.
ya lah, i followed my Dad mah, he gambled on them, i saw only about 50 peoples there, and half were bookies and gamblers, most were not even fans, they kept scolding the men in black. -
If the english clubs all forced out by uefa. the champions league will also be affected what.. the champions league will also lose its pretige. bad bad move by uefa.
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Actually, other than mancity in the EPL, but not yet in UCL.
are spending like free, which other club at topflight of the 4 is buying recklessly?
look at real madrid. and tell me who really need some banning!
retarded UEFA. if i am one of UEFA board members i would opt Mr Platini to step down...
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Originally posted by Crimsom:
If the english clubs all forced out by uefa. the champions league will also be affected what.. the champions league will also lose its pretige. bad bad move by uefa.
i think both side will loose, not only Uefa, the issue now is that money is playing the ball, not a true footballer, which is bad for soccer and peoples/fans, who had to pay high cost in tickets and cable TV to watch it. If UEFA dun stop it, in a long run, football club will become rich men club, a prestige for the wealthy who owns yacht, horse, property, jet and now, a football club. -
haha super biased. applies only to ENGLISH clubs? what kind of biased move is this. loopsided plans, should ban Michel Platini together with his bootlickers in UEFA instead.
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the reason why the target EPL is because it attracts interest from foreign billionairs who flooded the soccer market with cash. it tilts the balance of the game towards the english. real, barca, AC, inter, bayern are all locally own clubs. local owners tend to love the clubs but the real intention of foreign billionaires are greatly question.
i support UEFA decision
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Is uefa even really trying to give this rule a consideration? I mean, doesn't it go against EU rulings or anything like that?
I mean so what if a club wants to spend recklessly and self-implode? What? UEFA gonna play fatherly figure and spank the 'hyper-active' child now? Ish...If UEFA's purpose is to level the competition, then might as well apply salary caps or expenditure caps. Oh wait, that's against EU rulings right? I'm not too sure, someone enlighten please. (In any case, this paragraph is wholly rhetoric. Ty.)