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Platini: Half of European top flight clubs losing money

Other News Materials 4 October 2010 07:00 (UTC +04:00)
UEFA chairman Michel Platini has reiterated his concerns about the financial health of European football clubs, claiming that half of the top league ones were racking up losses.
Platini: Half of European top flight clubs losing money

UEFA chairman Michel Platini has reiterated his concerns about the financial health of European football clubs, claiming that half of the top league ones were racking up losses, Xinhua reported.

In an interview with Italian daily Il Sole 24 Ore, the head of European football governing body said: "Last year we highlighted a difficult situation where half of top flight clubs were racking up losses.

"After a first look through the accounts in 2009 the situation does not appear to have improved - on the contrary, the losses are rising."

"This confirms that energetic intervention has become indispensable - this is a situation affecting clubs in each of (UEFA's) 53 federations," he added.

UEFA has already drawn up new rules aimed at forcing clubs to strike a balance between receipts and expenditure and Platini said that the continent's governing body would enact stricter controls from next year as it looks to force the issue under the aegis of their control and disciplinary body.

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