Uefa Looking To Cap Club Spending
Michel Platini, the president of European football governing body UEFA, has told the European parliament that he is reviewing proposals to cap spending by clubs due to concerns the sport could ‘financially implode’.
Platini, who has often voiced his concerns at the levelling of spending particularly on players’ wages and transfer fees, insisted the clubs themselves have requested the introduction of a new policy.
He stated: ‘Clubs are telling us that our system is in danger of financially imploding in the medium term. We are looking at limiting a club’s expenditure on staff.
‘That limit would be salary and transfer fees combined – to an as yet undecided percentage of its direct and indirect sporting revenue.’
In leading the parliamentary debate, Platini stated that one club’s ‘astronomical bids’ were ‘morally’ questionable – a reference believed to have been aimed at Manchester City’s reported £90m bid for Brazilian midfielder Kaka.
‘During this year’s festive season, one club which had suddenly become very rich made various astronomical bids in the transfer market,’ Platini added.
‘Of course, there was a tremendous outcry in the football family, people called it outrageous and scandalous. Is it morally acceptable to offer such sums of money for a single player?
‘Many people have responded by talking about limiting players’ wages by introducing a European salary cap.’
The UEFA president called for the European parliament to help the governing body in its bid to make football more financially stable despite labour laws which currently promote free trade.
‘Whatever happens, please do not stop us, on the basis of inappropriate legislation, from establishing financial fair play.
‘Do not stop us from putting in place mechanisms that foster the integrity of our competitions and more transparency in the management of our affairs.
‘Do not stop us from acting morally. Especially when all the stakeholders – clubs, players and national associations – agree with my proposals for greater financial transparency and better governance.’
