Uefa general secretary David Taylor has sent out a clear warning to some of football's top clubs by stating that those with heavy debts may be banned from European competition.
FA chairman Lord Triesman estimated yesterday (October 7th) that the total debt accrued by clubs in England currently stands at around £3 billion.
Furthermore, reports have suggested that approximately a third of that figure is accounted for by Liverpool, Manchester United and Chelsea.
However, Taylor has reminded clubs that they are subject to licenses issued by Uefa if they are to gain entry to the Champions League or the Uefa Cup, so they could face the "ultimate sanction".
He said: "There would be forms of communication, even warnings or reprimands, before one got to a situation of exclusion but it is absolutely possible.
"Clubs must work within all available means and they must not expose themselves to such an extent that the whole future of the club is jeopardised unless some white knight comes over the horizon with millions and millions of pounds."
Taylor also expressed his belief that it would be virtually impossible for European football's governing body to impose any kind of wage cap to bring debts under control.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
