UEFA's Financial Fair Play approved
At a meeting yesterday in Nyon, Switzerland, UEFA president Michel Platini's 'Financial Fair Play' plan was approved unanimously.
The plan is aiming at forcing clubs to operate within their financial means and could have a great impact on club football in Europe. The plan will force clubs to cut down salaries as well as transfer fees and hopes to end the trend of rich owners buying into the game.
The implementation of the plan implies that clubs cannot spend more than they generate through revenues. Failing to comply with the rules may ban clubs from participating in European competitions.
"The main rule is the break-even requirement which will be phased in over the next three years."It is not as easy to swallow for everyone but everyone understands it is necessary.
"They are there not to punish clubs, they are there to help clubs," UEFA general secretary Gianni Infantino said according to Reuters.
SOURCE: REUTERS