Post by Macmoish on Nov 13, 2010 9:44:28 GMT
Obviously of QPR interest
Sunderland Official Site
Walton on financial changes
Chief executive Steve Walton examines the impact of UEFA's new Financial Fair Play rules.
Sunderland AFC's chief executive, Steve Walton, says the club will have to adjust their spending when the new UEFA Financial Fair Play regulations come into force.
European football's governing body have introduced new measures limiting clubs to only spend what they earn and making sure they meet their financial obligations.
The rules will be implemented in phases during the next three years and are expected to be fully in place by 2012-13.
"It will affect all clubs who have ambitions to play in Europe," said Walton, one of the game's top financial men.
"It really starts to bite in two years' time in terms of finances, so it would be a tragedy if we were to get into a position to play in Europe and then couldn't because of the Fair Play regulations.
"So it is massively important for us to make sure we can achieve that."
And he believes the regulations could herald the end of the philanthropic owner ploughing huge amounts of money into a club to transform their fortunes.
As well as the more high-profile clubs, outfits such as Wigan, Fulham and to a lesser extent Blackpool have all advanced from the lower divisions thanks in part to the help of a wealthy owner.
But when the new rules come into force, Walton believes it will be difficult for smaller clubs to break the status quo.
"These regulations are all about not running at huge losses - not allowing clubs to punch above their weight because an owner puts money in.
"The problem with those rules is that, once they're in, it will be very difficult to break the paradigm.
"For example, there's no way Dave Whelan could have changed Wigan in the way he has if Wigan wanted to play in Europe.
"Jack Walker couldn't have done it with Blackburn. Chelsea couldn't have done it with Abramovich."
And he says the club must push ahead with their vision to stabilise in the upper half of the league and ensure a long-term stay in the upper bracket of Premier League sides.
"Now we have the situation with Manchester City and ourselves having an owner who has pumped money in to fund losses and take us from a club hanging in the Barclays Premier League to a top-ten contender.
"It's really important for us to stabilise the club's finances going forward and capitalise on the huge investment we have made to get us into a position where we can be considered a genuine top-ten football club.
"From there on in we need to be able to balance the books."
www.safc.com/news/20101112/walton-on-financial-changes_2256213_2217508
Sunderland Official Site
Walton on financial changes
Chief executive Steve Walton examines the impact of UEFA's new Financial Fair Play rules.
Sunderland AFC's chief executive, Steve Walton, says the club will have to adjust their spending when the new UEFA Financial Fair Play regulations come into force.
European football's governing body have introduced new measures limiting clubs to only spend what they earn and making sure they meet their financial obligations.
The rules will be implemented in phases during the next three years and are expected to be fully in place by 2012-13.
"It will affect all clubs who have ambitions to play in Europe," said Walton, one of the game's top financial men.
"It really starts to bite in two years' time in terms of finances, so it would be a tragedy if we were to get into a position to play in Europe and then couldn't because of the Fair Play regulations.
"So it is massively important for us to make sure we can achieve that."
And he believes the regulations could herald the end of the philanthropic owner ploughing huge amounts of money into a club to transform their fortunes.
As well as the more high-profile clubs, outfits such as Wigan, Fulham and to a lesser extent Blackpool have all advanced from the lower divisions thanks in part to the help of a wealthy owner.
But when the new rules come into force, Walton believes it will be difficult for smaller clubs to break the status quo.
"These regulations are all about not running at huge losses - not allowing clubs to punch above their weight because an owner puts money in.
"The problem with those rules is that, once they're in, it will be very difficult to break the paradigm.
"For example, there's no way Dave Whelan could have changed Wigan in the way he has if Wigan wanted to play in Europe.
"Jack Walker couldn't have done it with Blackburn. Chelsea couldn't have done it with Abramovich."
And he says the club must push ahead with their vision to stabilise in the upper half of the league and ensure a long-term stay in the upper bracket of Premier League sides.
"Now we have the situation with Manchester City and ourselves having an owner who has pumped money in to fund losses and take us from a club hanging in the Barclays Premier League to a top-ten contender.
"It's really important for us to stabilise the club's finances going forward and capitalise on the huge investment we have made to get us into a position where we can be considered a genuine top-ten football club.
"From there on in we need to be able to balance the books."
www.safc.com/news/20101112/walton-on-financial-changes_2256213_2217508