Manchester United say they will meet new Uefa spending criteria

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The Independent Football

Manchester United insist they will pass Uefa's new "financial fair play" test, which is set to become part of European football's rules today.

Under the regulations, clubs in European competition will only be allowed to spend what they earn – although some leeway will be given for the first six years of the scheme. Clubs will also still be permitted to have large debts, but only if they can service the interest payments as part of their overall spending.

United claim they would pass the test, despite payments of £45m annually to service interest on the owners' £507m bond scheme. A club spokesman said: "We support the financial fair play measures. We are confident that we pass them and that we will continue to do so."

The new scheme will come into effect in 2012, although some early flexibility is afforded. Initially, clubs must not return losses of more than €45m (£38m) for the 2012-15 period. After 2015, clubs are given a leeway of €30m (£26m) for three-year losses after which it will be reduced further.