Platini welcomes Football League's financial fair play plans
Mon 13th Jun 2011 | Money & Finance
UEFA President Michel Platini has welcomed the decision by The Football League to adopt the UEFA Financial Fair Play framework.
Clubs in the Championship, League 1 and League 2 agreed to develop new measures aimed at delivering a 'break even' model to domestic professional football at their Summer Conference last week.
The head of European Football's governing body said: "We are very happy to see that Football League clubs, under the umbrella of The FA, are again taking the initiative on good governance issues by introducing Financial Fair Play.
"We are delighted that enlightened football bodies across the continent are trying to restore financial sanity to football on a national level, just as we are trying to do on a European level."
In order to meet the objectives of Financial Fair Play, Championship clubs have agreed to work towards the introduction of new regulations to be developed and approved by the beginning of the 2012/13 season, League 1 clubs have agreed to implement the Salary Cost Management Protocol (SCMP) - which limits spending on player wages to a proportion of total turnover - from 2011/12 and League 2 clubs, having successfully operated the SCMP at a 60% threshold since 2003, will reduce it to 55% next season.
---------------------------------------------------------------------------------------------------
SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk
Google
Yahoo
Live
del.icio
DiggRelated Articles
Gold welcomes financial benefits
Mon 21st May 2012 | Money & Finance
David Gold admits West Ham would have been in big financial trouble had they failed to make an immediate return to the Premier League. Gold reckons that Ricardo Vaz Te's goal three minutes from time...
Liverpool Count Cost Of Stadium Ambitions
Thu 3rd May 2012 | Money & Finance
Liverpool’s latest accounts show the true extent of Hicks and Gillett’s troubled tenure with over £35m wasted on the failed Stanley Park project. In an interview on the club’s...
TV Cash Windfall For Promoted Clubs
Thu 26th Apr 2012 | Money & Finance
Southampton can expect a revenue boost of at least £90 million if they can achieve automatic promotion this weekend, according to Deloitte, the business advisory firm. The Saints need a victory...
Football League To Introduce Financial Fair Play
Wed 25th Apr 2012 | Money & Finance
The Football League will implement its own Financial Fair Play regulations across all three of its divisions, after Championship clubs voted in favour of a breakeven approach based on UEFA's Financial...
