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UEFA Vows To Punish Clubs In Red
AP , August 27th, 2009 4PM

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UEFA is trying to curb the financial recklessness that plagues many of Europe's top clubs. UEFA president Michel Platini said that he wants to establish new rules by 2012 to stop clubs from spending more on players than they generate in income. Before launching this season's 32 team Champions League competition, UEFA warned European soccer clubs that they must break even in the future or face being barred from the Champions League. "The clubs simply can't spend more than they generate by way of income," Platini said. "We have three years to see how clubs can get back to break even."

Much remains unclear, however, about clubs operating legitimately in debt. "If the loss corresponds to the money which is invested in youth and infrastructure, this will certainly be tolerated," UEFA deputy general secretary Gianni Infantino said. UEFA plans to create an independent financial control panel to review clubs' financial status. This panel will warn and fine clubs before expelling them from the competition.

UEFA's proposals for controlling club spending will be discussed Friday by the Professional Football Strategy Council, a panel of experts from Europe's clubs, leagues and players' unions.

 

 

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