UEFA makes concessions on new financial rules
Source: Agencies |
March 4, 2010, Thursday
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EUROPEAN clubs claimed on Tuesday to have won concessions from UEFA over the implementation of new financial rules designed to combat rising debt levels in soccer.
The European Club Association said it has persuaded UEFA to phase in regulations over three years from 2012 that clubs must break even and spend only what they earn from football-related income, such as ticket sales, sponsorships and television deals.
Clubs' finances will be assessed over a rolling three-year period and any team not complying with the new rules won't be allowed to compete in the Champions League or Europa League.
UEFA has yet to officially announce it will phase in the regulations, but ECA chairman Karl-Heinz Rummenigge was jubilant.
"This really is a huge achievement," Rummenigge said. "After only two years of existence, the European Club Association has managed, together with UEFA, to set measures that will shape the future of European club football into a more responsible business and ultimately a more sustainable one."
The ECA wants UEFA to scrap a proposal that the rules should only apply to clubs with a turnover greater than 50 million euros, which would affect more teams from England than from any other country.
Manchester United chief executive David Gill said English clubs should not be affected any more than other nationalities, despite the Premier League champions recording financial losses in two of the past three years due to exorbitant interest payments.
"There is enough money in the Premier League that it should not be an issue," said Gill, an ECA board member. "If (clubs) are not complying now, the transition mechanism means they can get their house in order.
"The Premier League is one of the wealthiest leagues in the world and there is no reason why they should not be able to comply with the rules."
Inter Milan chief executive Ernesto Paolillo believes a "new football" will emerge from the changes.
"These financial problems will affect all clubs if we continue in this way," Paolillo said. "Sometimes you need a shock, and this is the right shock."
Arsenal chief executive Ivan Gazidis hopes it will help to clean up football and attract new investment.
"Soccer is still very attractive to new owners and, with the new UEFA rules on debt in place, I think we will get even more sensible, responsible owners in the future," Gazidis said. "We are an industry that creates enormous revenues, and for us to have the problems means the game is in need of self-examination and must cause us to ask some serious questions of ourselves."
Representatives from 92 clubs at the ECA general assembly in Manchester also agreed to limit squads to 25 players.
The European Club Association said it has persuaded UEFA to phase in regulations over three years from 2012 that clubs must break even and spend only what they earn from football-related income, such as ticket sales, sponsorships and television deals.
Clubs' finances will be assessed over a rolling three-year period and any team not complying with the new rules won't be allowed to compete in the Champions League or Europa League.
UEFA has yet to officially announce it will phase in the regulations, but ECA chairman Karl-Heinz Rummenigge was jubilant.
"This really is a huge achievement," Rummenigge said. "After only two years of existence, the European Club Association has managed, together with UEFA, to set measures that will shape the future of European club football into a more responsible business and ultimately a more sustainable one."
The ECA wants UEFA to scrap a proposal that the rules should only apply to clubs with a turnover greater than 50 million euros, which would affect more teams from England than from any other country.
Manchester United chief executive David Gill said English clubs should not be affected any more than other nationalities, despite the Premier League champions recording financial losses in two of the past three years due to exorbitant interest payments.
"There is enough money in the Premier League that it should not be an issue," said Gill, an ECA board member. "If (clubs) are not complying now, the transition mechanism means they can get their house in order.
"The Premier League is one of the wealthiest leagues in the world and there is no reason why they should not be able to comply with the rules."
Inter Milan chief executive Ernesto Paolillo believes a "new football" will emerge from the changes.
"These financial problems will affect all clubs if we continue in this way," Paolillo said. "Sometimes you need a shock, and this is the right shock."
Arsenal chief executive Ivan Gazidis hopes it will help to clean up football and attract new investment.
"Soccer is still very attractive to new owners and, with the new UEFA rules on debt in place, I think we will get even more sensible, responsible owners in the future," Gazidis said. "We are an industry that creates enormous revenues, and for us to have the problems means the game is in need of self-examination and must cause us to ask some serious questions of ourselves."
Representatives from 92 clubs at the ECA general assembly in Manchester also agreed to limit squads to 25 players.
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