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UEFA to call time on loss-making clubs

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MALTA/Half Europe’s leading professional clubs are losing money, according to UEFA, and the forthcoming Financial Fair Play initiative will be a concerted attempt to tackle the problem.

The new financial framework will mean that from the 2013-14 season, clubs must break even or face the threat of exclusion from European club competition.

UEFA general secretary Gianni Infantino outlined the situation in a telephone interview with Mike Collett, our chief soccer correspondent, and myself. Here is what he said:

REUTERS: Can you explain what Finanical Fair Play is exactly?

UEFA: Essentially it is not a difficult thing. The main reason for financial fair play is that it is a tool to help improve the long-term stability and the financial health of European club football. It should help the clubs live within the revenues that they generate and one important element of this is that this whole concept was agreed last August in Monaco by all the stakeholders: the clubs, the leagues, the players unions and the national associations, they are all behind this concept.

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