EUROPIAN CLUBS STILL IN DANGER
As many as 11 clubs could have “potentially” been barred from competing in European competitions this year if UEFA’s new financial regulations had been in place, according to Gianni Infantino, secretary general of European football’s governing body.
UEFA’s new financial fair play rules, which broadly demand that clubs break even, are due to apply from the 2012 financial year, with sanctions likely to be enforced two to three years later.
MORE THAN 50 PERCENT CLUBS IN RED
“Two years ago almost 70% of clubs were in the red,” Infantino told reporters as UEFA unveiled its 2009 club licensing report. “At present there are still 56% – that means more than half of all professional football clubs are in the red.”
According to UEFA’s figures, the 655 top-flight clubs in Europe generated collective revenues of Eur11.7 billion, a year-on-year increase of 4.8%. “However, the figures demonstrate that we were right to ask for more financial discipline because the reported costs were Eur12.9 billion, an increase of 9.3%,” added Infantino.
UEFA’s report revealed that the collective losses of up to nearly Eur1.18 billion represented an 85% increase or “almost double the previous record”. UEFA president Michel Platini added: “There won’t be any witch-hunts today but on the other hand we won’t hesitate to clamp down.”
The new rules, which were first announced last March, will apply to clubs from 53 top divisions that qualify for European competitions, and will be brought in to ensure clubs do not “repeatedly” spend more than they earn, a UEFA official explained to AFP. European Club Association chairman Karl-Heinz Rummenigge has said the organisation’s 197 members back the new rules.
