Hey big spenders: City have just splashed out £27m
on Dzeko (right)
Michel Platini has warned
that the likes of big-spending Manchester
City and Chelsea, and some of Europe's biggest clubs, will have
to 'face the music' if they do not comply with UEFA's new financial
fair play rules.
UEFA's latest figures show that financial problems affecting
European clubs are getting worse, with spending on player wages up
almost 10 per cent - and increasing at a faster rate than
income.
Under their new rules, clubs will face possible bans from
European competition from the 2014/15 season if they spend more
than they earn in the three years before.
Manchester City's recent £121million losses mean they are the
club in England facing the greatest difficulty to abide by the
rules - even though owners are also allowed to inject £12m a year
(15m euro) into their club.
Leading Italian clubs also face problems but UEFA president
Platini said whatever their stature, the European governing body
would not hesitate to take action.
Platini, speaking at UEFA's headquarters in Nyon, Switzerland,
said: 'If a club doesn't fall in line and follow the same rules as
everyone else then it will be time to face the music.
'Certainly it is not something we want to see. Our objective is
not to put clubs into financial difficulty. Financial fair play is
to help them escape from this devilish spiral and have a viable
economic strategy in the long term.
Different direction: UEFA president Michel Platini
is admant that football clubs must turn their backs on spending
more than they earn
'This is not a witch-hunt, this is so they no longer
continue blindly and mindlessly.'
Manchester City have already sent officials to meet UEFA about
complying with the financial rules.
Andrea Traverso, UEFA's head of licensing, said: 'We are in
talks with the club - they are aware of the rules and they probably
have a strategy to raise their income. They have been to see us and
they are confident that they can manage this challenge.'
Platini added: 'Last year in Abu Dhabi I met up with the owner
of Manchester City and he promised they would live with the rules
and regulations.'
The European Clubs' Association (ECA) has thrown their weight
behind the new rules. ECA chairman Karl-Heinz Rummenigge said:
'It's time to step on the brake and bring a bit of rationality to
football.'