Post by QPR Report on Jan 23, 2009 6:38:10 GMT
Poor little rich kids!
Independent/By Darren Ennis in Brussels
Clubs meet Uefa to look at financial constraints
Europe's leading clubs and the game's European governing body Uefa have started preliminary discussions on curbing the amount of money that can be spent on player transfers or wages, sources close to the talks said.
The European Club Association (ECA), which represents the continent's leading clubs, has proposed that only around 51 per cent of a club's revenue should be spent on transfers or salaries. An upsurge in the cost of players – highlighted by Manchester City's reported €110m (£103m) failed bid for Milan's Kaka – combined with huge salaries prompted the move as the global financial crisis bites. "Talks are at a preliminary stage, but there is a view that clubs cannot sustain this situation in the long term," one ECA source said. "The issue is due to be discussed at the ECA's general assembly next month."
A senior Uefa official confirmed the governing body "was looking seriously at the proposal". World football body Fifa, Uefa and the European Union are also concerned over the influx of money from billionaire owners from outside Europe who have taken large stakes in clubs, particularly in England. In November, EU sports ministers mulled the possibility of a pan-European financial regulator for sport but decided instead to press Fifa and Uefa to introduce stricter financial rules for clubs and leagues.
www.independent.co.uk/sport/football/european/clubs-meet-uefa-to-look-at-financial-constraints-1513297.html
GUARDIAN
Uefa in talks to curb spending on transfers and wages• Clubs' representative suggests tying expenditure to income• Fear that clubs' spending levels cannot be sustainedguardian.co.uk, Thursday 22 January 2009 14.19 GMT
Article history
Europe's top football clubs and the game's European governing body, Uefa, have started preliminary discussions on curbing the amount of money that can be spent on player transfers or wages, sources familiar with the talks said.
The European Club Association (ECA), which represents the continent's leading clubs including Manchester United, Real Madrid and Milan, has proposed that clubs should be allowed to spend only about 51% of their revenue on transfers or salaries.
An upsurge in the cost of buying players – highlighted by Manchester City's reported €110m (£103m) failed bid for Milan's Kaka – combined with huge salaries prompted the move as the global financial crisis bites.
"Talks are at a preliminary stage, but there is a view that clubs can not sustain this situation in the long term," one ECA source said. "The issue is due to be discussed at a meeting of the ECA's general assembly next month."
A senior Uefa official confirmed that the governing body "was looking seriously at the proposal".
Football's world governing body Fifa, Uefa and the European Union have also expressed concern over the influx of money from billionaire owners from outside Europe who have recently taken large stakes in clubs, particularly in England.
In November, EU sports ministers considered the possibility of a pan-European financial regulator for sport but decided instead to press Fifa and Uefa to introduce stricter financial rules for clubs and leagues. "If we fail to act, then the EU will," the Uefa official told Reuters.
Under the ECA proposal, revenue would be determined as money received only from ticket sales, sponsorship, merchandise and television income. It would not include any financial investment by owners or major shareholders.
"Any money from shareholders, or billionaire owners would be invested into the infrastructure of the club, such as building or renovating the stadium or investing in youth development such as an academy," the Uefa official said.
However, there are concerns that smaller clubs who cannot accumulate large revenues from ticket and television sales may suffer from the ECA proposal.
"One option would be to give such clubs a derogation for a couple of years to give them the chance to attract investors and sponsors," another ECA source said. "This is all part and parcel of the negotiations."
Any deal with Uefa would only affect clubs involved in European competitions, such as the Champions League and Uefa Cup, and further discussions would also be needed to have any agreement enforced on a domestic level.
www.guardian.co.uk/football/2009/jan/22/uefa-clubs-spending-curbs
Independent/By Darren Ennis in Brussels
Clubs meet Uefa to look at financial constraints
Europe's leading clubs and the game's European governing body Uefa have started preliminary discussions on curbing the amount of money that can be spent on player transfers or wages, sources close to the talks said.
The European Club Association (ECA), which represents the continent's leading clubs, has proposed that only around 51 per cent of a club's revenue should be spent on transfers or salaries. An upsurge in the cost of players – highlighted by Manchester City's reported €110m (£103m) failed bid for Milan's Kaka – combined with huge salaries prompted the move as the global financial crisis bites. "Talks are at a preliminary stage, but there is a view that clubs cannot sustain this situation in the long term," one ECA source said. "The issue is due to be discussed at the ECA's general assembly next month."
A senior Uefa official confirmed the governing body "was looking seriously at the proposal". World football body Fifa, Uefa and the European Union are also concerned over the influx of money from billionaire owners from outside Europe who have taken large stakes in clubs, particularly in England. In November, EU sports ministers mulled the possibility of a pan-European financial regulator for sport but decided instead to press Fifa and Uefa to introduce stricter financial rules for clubs and leagues.
www.independent.co.uk/sport/football/european/clubs-meet-uefa-to-look-at-financial-constraints-1513297.html
GUARDIAN
Uefa in talks to curb spending on transfers and wages• Clubs' representative suggests tying expenditure to income• Fear that clubs' spending levels cannot be sustainedguardian.co.uk, Thursday 22 January 2009 14.19 GMT
Article history
Europe's top football clubs and the game's European governing body, Uefa, have started preliminary discussions on curbing the amount of money that can be spent on player transfers or wages, sources familiar with the talks said.
The European Club Association (ECA), which represents the continent's leading clubs including Manchester United, Real Madrid and Milan, has proposed that clubs should be allowed to spend only about 51% of their revenue on transfers or salaries.
An upsurge in the cost of buying players – highlighted by Manchester City's reported €110m (£103m) failed bid for Milan's Kaka – combined with huge salaries prompted the move as the global financial crisis bites.
"Talks are at a preliminary stage, but there is a view that clubs can not sustain this situation in the long term," one ECA source said. "The issue is due to be discussed at a meeting of the ECA's general assembly next month."
A senior Uefa official confirmed that the governing body "was looking seriously at the proposal".
Football's world governing body Fifa, Uefa and the European Union have also expressed concern over the influx of money from billionaire owners from outside Europe who have recently taken large stakes in clubs, particularly in England.
In November, EU sports ministers considered the possibility of a pan-European financial regulator for sport but decided instead to press Fifa and Uefa to introduce stricter financial rules for clubs and leagues. "If we fail to act, then the EU will," the Uefa official told Reuters.
Under the ECA proposal, revenue would be determined as money received only from ticket sales, sponsorship, merchandise and television income. It would not include any financial investment by owners or major shareholders.
"Any money from shareholders, or billionaire owners would be invested into the infrastructure of the club, such as building or renovating the stadium or investing in youth development such as an academy," the Uefa official said.
However, there are concerns that smaller clubs who cannot accumulate large revenues from ticket and television sales may suffer from the ECA proposal.
"One option would be to give such clubs a derogation for a couple of years to give them the chance to attract investors and sponsors," another ECA source said. "This is all part and parcel of the negotiations."
Any deal with Uefa would only affect clubs involved in European competitions, such as the Champions League and Uefa Cup, and further discussions would also be needed to have any agreement enforced on a domestic level.
www.guardian.co.uk/football/2009/jan/22/uefa-clubs-spending-curbs