LONDON The English Premier League can now take temporary control of clubs that run into financial problems and ban them from buying players or increasing their wage bills under new regulations.
LONDON The English Premier League can now take temporary control of clubs that run into financial problems and ban them from buying players or increasing their wage bills under new regulations.
But Premier League chief executive Richard Scudamore pledged to resist UEFA's more stringent plans to impose budget caps.
Instead, England's 20 top-flight clubs voted to empower league officials to intervene if a team seems to be in danger of going into financial administration. The new measures were approved by the clubs at a meeting last week.
"If on assessment the (Premier League) board believes the club is at risk of not being able to meet their obligations, then it has to step in and agree a budget for the running of that club," Scudamore said.
Clubs are mandated to submit accounts by March each year and the Premier League would act on any concerns raised by the auditors over debt levels or if taxes and creditors had gone unpaid. Sapa-AP
English clubs risk takeover
LONDON The English Premier League can now take temporary control of clubs that run into financial problems and ban them from buying players or increasing their wage bills under new regulations.
LONDON The English Premier League can now take temporary control of clubs that run into financial problems and ban them from buying players or increasing their wage bills under new regulations.
But Premier League chief executive Richard Scudamore pledged to resist UEFA's more stringent plans to impose budget caps.
Instead, England's 20 top-flight clubs voted to empower league officials to intervene if a team seems to be in danger of going into financial administration. The new measures were approved by the clubs at a meeting last week.
"If on assessment the (Premier League) board believes the club is at risk of not being able to meet their obligations, then it has to step in and agree a budget for the running of that club," Scudamore said.
Clubs are mandated to submit accounts by March each year and the Premier League would act on any concerns raised by the auditors over debt levels or if taxes and creditors had gone unpaid. Sapa-AP
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