19 May 2008Platini: 'The clubs with debts must not always win'

Football Finance News | Football Referees, Players, Managers and Media

Uefa president Michel Platini has warned that "the clubs with debts must not always win".

His words were not an attack on struggling lower-league clubs who, through no fault of their own, struggle to balance staff wages with the need to put out a competitive starting eleven.

It is more an attack on clubs who buy their way to success on money which is either borrowed or provided by chairman whose loyalty can prove fickle when boredom sets in or instant success isn't guaranteed.

There is fear among the British football community that so many major clubs are running up long-term debts to chase short-term glory.

When you add the debts of the top four Premier League teams together the figure exceeds £1 billion - only Arsenal have a debt that is entirely related to the new stadium; Liverpool, like Manchester United, are owned by Americans with a non-footballing background and are heavily in debt to banks.

Two-time World Cup semi-finalist Platini told the Daily Telegraph: "We are preparing a plan that will encourage clubs to reduce their debts and give us clear, clean competition."

© Copyright