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Platini: consequences for money-losing clubs

  • AP, Tuesday, January 11, 2011 11:40 AM

In the wake of a report that more than half of 655 European clubs showed a financial loss in 2009, UEFA President Michel Platini warned that the European governing body will make good on its threat to bar money-losing clubs from the lucrative Champions League.

"It will have been time for them to face the music," Platini said. "There will be no witch hunt. If a club does not fall in line and does not apply the same rules as everybody else, they would have to live with the consequences.

Clubs from Europe’s 53 soccer nations had a combined deficit of $1.55 billion despite sharing record revenues of $15.1 billion. Clubs spent 64 percent of their income on player wages and other staff expenses, UEFA said.

Platini said UEFA said 11 teams in this season’s Champions League and second-tier Europa League would have failed had the financial fair play rules that will be enforced in July already applied.

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