Platini to stand for re-election

Platini plans to stand for re-election (Getty Images)

UEFA president Michel Platini is to stand for re-election, he announced today.

The Frenchman is expected to be unopposed for the election at the UEFA Congress in Paris next year.

Platini told the UEFA Congress in Tel Aviv: "I am a happy man, a happy president and happy to work with you.

"There is more work to do in the future so I am happy to announce to you that I am a candidate for re-election to the presidency of UEFA."

The announcement should also end any speculation that Platini is considering standing as FIFA president next year.

Platini, speaking to delegates from UEFA's 53 member associations, added that his plans outlined at last year's Congress in Copenhagen for "financial fair play" - where clubs in European competition should only be allowed to spend what they earn - remained one of the biggest challenges if the game is to survive.

Platini added: "I told you that it was vital for football and the future of our clubs that they should respect clear rules on the management of their finances.

"I told you, word for word, that in this area we will act because it is a question of ethics, a question of credibility and even a question of survival for our sport. I can tell you today that we have acted.

"All the families of football, without exception, have approved our concept and the principles of financial fair play. Principles that are supported and encouraged by the institutions of the European Union.

"A UEFA Club Financial Control Panel has been set up, involving some of the top European experts on these issues ... It is now established that, from the 2012/13 season, clubs participating in European competitions will have to follow a simple but demanding rule: they will not be allowed to spend more than they earn."