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UEFA President Michel Platini: New Regulations Will Bring End To Transfer Market Anarchy
Governing body's move to halt excessive spending...
Aug 30, 2010 6:38:00 PM
By Matt Monaghan
UEFA president Michel Platini has declared the new regulations to halt excessive spending will bring an end to the transfer market "anarchy".
The organisation are set to gradually implement new financial fair play rules from next season in attempt to keep a lid on club debt and create a level playing field.
These measures could put a halt to the influence of billionaire benefactors such as Roman Abramovich and Sheikh Mansour on the sport, and the ex-Juventus and France superstar backs the governing body's action.
He said: "For years and years we were in total anarchy but the clubs asked for the rules because they knew they could not continue.
"We can see already that the clubs are spending less as they look to balance their books.
"This is because the first time the break-even rule will kick in is in the coming year, the 2011-2012 season.
"It's very soon and this means that the strategy to say 'I can now go and spend hundreds of millions' doesn't work because we will see it in two years at the latest.
"Transfers have not been as crazy as in the last few years, they are pulling up their socks and the clubs are making special efforts to comply with the rules."
The legislation will allow owners to inject €15 million (£12.3m) a year into their clubs up until 2015, and then €10m (£8.2m) until 2018. This cash cannot be a loan, which is an approach already taken by the Manchester City and Chelsea hierarchy.
The organisation are set to gradually implement new financial fair play rules from next season in attempt to keep a lid on club debt and create a level playing field.
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These measures could put a halt to the influence of billionaire benefactors such as Roman Abramovich and Sheikh Mansour on the sport, and the ex-Juventus and France superstar backs the governing body's action.
He said: "For years and years we were in total anarchy but the clubs asked for the rules because they knew they could not continue.
"We can see already that the clubs are spending less as they look to balance their books.
"This is because the first time the break-even rule will kick in is in the coming year, the 2011-2012 season.
"It's very soon and this means that the strategy to say 'I can now go and spend hundreds of millions' doesn't work because we will see it in two years at the latest.
"Transfers have not been as crazy as in the last few years, they are pulling up their socks and the clubs are making special efforts to comply with the rules."
The legislation will allow owners to inject €15 million (£12.3m) a year into their clubs up until 2015, and then €10m (£8.2m) until 2018. This cash cannot be a loan, which is an approach already taken by the Manchester City and Chelsea hierarchy.
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| Open an account with Sportingbet today and get up to £50 in free bets! |
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