Uefa have agreed their financial fair play regulations to come into effect in 2012-13. Clubs will be expected to break even over a three year period. The detailed regulations will not be available until June and, as always, the devil in the detail. Uefa insist that their intention is to protect not to punish clubs, but some think their agenda is driven by envy at the marketing success of the Premier League.
Uefa have agreed their financial fair play regulations to come into effect in 2012-13. Clubs will be expected to break even over a three year period. The detailed regulations will not be available until June and, as always, the devil in the detail. Uefa insist that their intention is to protect not to punish clubs, but some think their agenda is driven by envy at the marketing success of the Premier League. Others argue that recent events at clubs such as Portsmouth demonstrate the need for stricter financial controls,
There is no doubt that they want to diminish the influence of wealthy benefactors on the game. Michel Platini wants to see an end to ‘success on credit’ and Uefa general secretary Gianni Infantino has been quoted as saying, ‘It will not be possible for the big sugar daddies to write out a cheque at the end of the season.’ Underlying all this is a conflict between Britain’s liberal economic model and the more solidaristic models to be found in continental European countries such as France and Germany.
Arsenal and Spurs would both pass the test, but Chelsea and Manchester City would face difficulties. Manchester United claim they would pass despite big debt repayments. They ran a ‘dummy test’ and concluded that they would pass. United made a profit of £22m last year after interest payments, but much of this was due to the sale of Christiano Ronaldo to Real Madrid for £80m.