Platini claims to have clipped big spenders' wings
Tuesday 31 August 2010
Uefa president Michel Platini claims the governing body's new rules on spending have ended the "total anarchy" that surrounded player transfers. This summer's transfer window is expected to show another drop in spending by Premier League clubs – and that despite Manchester City's £126m spree.
Uefa's new financial fair play rules, aimed at ensuring clubs in European competition only spend what they earn, are due to come into force from next season though they will be introduced gradually. Last year Premier League clubs spent £450m but this summer the total sum could be down by 25 per cent. Meanwhile, January saw only £30m spent – the lowest figure since the mid-season window was introduced in 2003.
Platini said: "For years and years we were in total anarchy but the clubs asked for the rules because they knew they could not continue. We can see already that the clubs are spending less as they look to balance their books.
"This is because the first time the break-even rule will kick in is in the coming year, the 2011-2012 season.
"It's very soon and this means that the strategy to say, 'I can now go and spend hundreds of millions' doesn't work because we will see it in two years at the latest. Transfers have not been as crazy as in the last few years, they are pulling up their socks and the clubs are making special efforts to comply with the rules."
Latest in Sport
Pornhub: Cheeky Liverpool fan uploads Philippe Coutinho wonder-goal video to adult website
Liverpool injury news: Brendan Rodgers could be without up to seven players for Burnley game... as Jordon Ibe posts picture of knee brace
Arsenal shareholders Stan Kroenke, Alisher Usmanov and Farhad Moshiri appear on Forbes' rich list - with a combined net worth of £14.9bn
Watch the moment a basketball player reassures a small boy after a mass brawl erupted on court
Jon Stewart brings The Daily Show to WWE Raw as Seth Rollins pays the price for feud with TV presenter
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin