Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
UEFA: Clubs must stop 'negative spiral' of financial losses
AP, January 25th, 2012 4:24PM

MOST READ

MOST COMMENTED

Cumulative losses of $2 billion by top European clubs in 2010 has prompted renewed warnings from UEFA that sanctions will be imposed on teams that fail to comply with financial guidelines. Debts are still rising as wealthy owners pump massive amounts into buying top players. Accounts from about 650 clubs reveal 56 percent lost money in the 2010 financial year, and their total debt was 8.4 billion euros ($10.9 billion).

UEFA general secretary Gianni Infantino said it was “a last wake-up call” with clubs having been subject to UEFA’s financial fair play monitoring since July 2011.
“We must end this negative spiral and gamble for success,” Infantino told reporters at a briefing.

UEFA’s research showed that richer and more successful clubs were more likely to spend and lose money. Of more than 200 clubs playing in UEFA’s Champions League and Europa League competitions two years ago, 65 percent spent more than they earned. Three out of every four clubs earning more than 50 million euros ($65 million) annually also recorded a loss. UEFA says clubs who overspend in an initial two-year monitoring period can be excluded from its competitions from the 2014-15 season. It acknowledged that 13 clubs would have failed its break-even tests on their 2010 accounts. The clubs were not identified.

Since financial licensing was introduced in 2004, 31 clubs, including four this season, have been refused entry to its two main club competitions  However, clubs barred this season were from the small-market leagues of Ireland, Kazakhstan, Lithuania and Romania. Skepticism has grown over UEFA’s willingness to take on big-spending clubs such as Premier League leader Manchester City, whose owners from Abu Dhabi funded a $318 million-loss for 2010-11, the final season before FFP took effect.

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Report: Clasico to Break Records     
AS reports that Saturday's Clasico between Real Madrid and Barcelona at the Bernabeu in Madrid will ...
Dunga Names Neymar Brazil Captain    
Brazilian national team coach Dunga on Friday revealed that Neymar will retain the captain's armband when ...
Reports: Lampard Could Extend City Stay     
According to reports in England, Frank Lampard could be able to stay on loan at Manchester ...
Pogba Signs Three-Year Extension with Juve    
Juventus midfielder Paul Pogba on Friday signed a new deal that will keep him at the ...
Rio Ferdinand to Retire This Season    
Former England captain and Queens Park Rangers defender Rio Ferdinand has said he plans to retire ...
Garcia: Roma Must Respond Following Bayern "Accident"     
AS Roma coach Rudi Garcia on Friday admitted that his team has a long way to ...
Mourinho: Costa Could Play Against Man United    
Jose Mourinho on Friday revealed that Chelsea striker Diego Costa could play at Manchester United on ...
Enrique: Suarez to Make Barca Clasico Debut     
Barcelona coach Luis Enrique on Friday confirmed that Luis Suarez will play in Saturday's Clasico vs. ...
Sporting Demands UCL Replay     
Sporting Lisbon has lodged a formal complaint with UEFA demanding a replay of its UEFA Champions ...
FIFA Rankings: USA Falls to 23rd    
Jurgen Klinsmann's USA fell six places to 23rd in FIFA's international rankings following a pair of ...
>> Section 2 Around the Net Archives