All smiles: UEFA President Michel Platini is
planning a raft of changes at the top
Chelsea chairman Bruce Buck has
warned that UEFA president Michel Platini's proposal to regulate
football debt will start to bite in this summer's transfer
market.
Platini's plans are expected to be rubber-stamped next week when
UEFA's executive committee meet in Switzerland. The rules will not
come into effect until the 2012-13 season but the previous year's
accounts will need to be presented and Buck believes the changes
will have an impact this year.
He said: 'We have looked closely at the proposed rules and
starting now we are going to have to be very careful on transfer
fees and in salary negotiations because having a positive profit
and loss statement will be crucial in getting a UEFA licence and
participating in the Champions League.
'Even if we wanted to spend more money we just won't be
able to, so we have to do what is necessary to comply with the new
rules.'
Platini's proposal will mean those clubs who spend more than
their football income will not be granted a licence to take part in
the Champions League or Europa League.
Buck added: 'Personally, I think it is significantly different
if a club gets money from its owner, rather than going out and
borrowing money from a bank and I think the rules ought to take
account of that. It is unclear at the moment whether they
will.'
The UEFA executive committee will also decide between France,
Italy and Turkey as host nation for the 2016 European
Championship.