Sun Dec 04 05:51:19 SAST 2016

Cut spending or suffer, Platini warns

By unknown | 2009-02-19 00:00:00.0 | COMMENTS [ 0 ]

BRUSSELS - UEFA chief Michel Platini told the European Parliament yesterday that unless his plan of capping transfer and wage spending was introduced, Europe's most popular and lucrative sport could "financially implode".

BRUSSELS - UEFA chief Michel Platini told the European Parliament yesterday that unless his plan of capping transfer and wage spending was introduced, Europe's most popular and lucrative sport could "financially implode".

The UEFA president's comments will further widen an already major split with Europe's leading clubs over the issue.

Earlier this month, the European Club Association (ECA) which represents 137 leading teams such as Manchester United and Real Madrid, said it did not support salary caps.

The English Premier League also said it opposed any Europe-wide financial regulation.

But the head of European soccer's governing body said if action were not taken the game in Europe was "in danger" from the worst financial crisis in nearly 80 years. - Reuters

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