OVER SPENDING ENGLISH FOOTBALL CLUBS SHOWN THE YELLOW CARD BY BRUSSELS
Posted, June 02, 2010 @ 00:00
Clubs with a deficit of over 45 Million Euro could be banned from European Competitions.
Brussels 2 June 2010. Conservative Culture spokesman Emma McClarkin said moves by the EU in conjunction with UEFA to stop football clubs spending more than they have coming in could see top flight clubs like Manchester United and Manchester City excluded from UEFA Competitions such as the Champions and Europa Leagues.
The move came to light following a meeting yesterday between the European Parliament's Culture Committee and UEFA representative William Gaillard, Michel Platini's number two at the powerful football organisation.
Under the plan clubs would be forbidden from having a deficit of over 45 Million Euro and those with deficits less than this number would be encouraged to submit plans to break even over a limited number of years. However, expenditure linked to clubs infrastructure such as training, youth academies and social or community projects would be exempted.
The move is an attempt to prevent clubs such as Portsmouth going under whilst, surreptitiously some believe, trying to create a more even playing field for top flight clubs.
Speaking after the meeting, Emma McClarkin said,
"Whilst we welcome moves that would encourage football clubs to exercise sound financial judgement, this plan could adversely affect a number of top flight football clubs whose balance sheets might look as if they are spending more than they have coming in but who are actually some of the most valuable sports clubs in the world. Their exclusion would compromise the quality of European competitions."
It would be a matter of grave regret and a loss to European tournaments if top flight British Clubs such as Manchester United and Manchester City were excluded purely on the basis of financial performance."