Uefa has found an unlikely backer for its financial fair play regulations in the form of Bank of England Governor Sir Mervyn King. Aston Villa supporter King said on Radio 4 that Uefa’s financial fair play regulations would limit the role money has in deciding performance on the pitch.
Uefa has found an unlikely backer for its financial fair play regulations in the form of Bank of England Governor Sir Mervyn King. Aston Villa supporter King said on Radio 4 that Uefa’s financial fair play regulations would limit the role money has in deciding performance on the pitch.
‘The great virtue of those rules is that they do give fans for all teams the chance to think that the outcome won’t depend on which team has managed to find some rich person from around the world to come and put money in.’ The central bank supremo added, ‘I think any football fan has seen clubs get into financial difficulties so many times over the years and then rescued by some white knight who comes along, only for that white knight in turn to become the person who is disillusioned and walks away.’
Although these remarks came after a speech in which King went as far as he done up to now in admitting that he kept the eye off the ball during the run up to the financial crisis, there are many who think that he has not fully acknowledged his failures and is too keen to put the blame elsewhere.
He evidently thinks that the lot of football clubs is an easier one than the challenges he faces in his role. Referring to Premier League clubs he commented, ‘Lots of them are in debt. Britain didn’t have a rich person to come along and bail us out and that’s why we’re paying for it, but football clubs seem to find them.’ However, even the interest on Britain’s national debt would be beyond the scope of the richest person in the world.
However, Villa fans will be reassured to learn that King thinks the club will retain its Premiership status: ‘Take the chances that will come, there will be chances, and I am confident we’ll stay up.’ Hoping for a lucky break: just like central banking really.