UEFA's impending rules that will force big clubs to live within their means have resulted in a massive cutback in spending on the transfer market -- upward of 40 percent -- but an expert from the consultancy firm Deloitte said higher revenues are also needed.

"One of the main reasons for this is that clubs are striving to bring a better balance in the amount they spend, particularly on player wages and transfer fees," said Paul Rawnsley, director in the Sports Business Group at Deloitte.

UEFA rules take effect next season with a break-even target by 2013. "I expect there will still be a significant level of transfer spending, but not perhaps as excessive as we have sometimes seen in the past," he said. "If clubs' revenues increase, they can afford to spend more."