Wednesday, October 08, 2008
Uefa could ban debt-ridden clubs
A senior Uefa official has warned clubs burdened by excessive debt, that they could be excluded from European competition in the future.
David Taylor, the general secretary of Uefa, says clubs face the "ultimate sanction" if they failed to deal with serious debts.
Manchester United and Liverpool are just two examples of Premier League clubs who have been burdened by massive debts after their respective takeovers.
"There would be forms of communication, even warnings, even reprimands before one would ever get to a situation of exclusion but it's absolutely possible," Taylor said.
Taylor expressed concern that clubs are putting their futures in jeopardy by exposing themselves to debt that would require a "white knight" to bail them out.
"We are looking at strengthening the minimal financial criteria and other forms of self regulation that may impose greater standard on clubs that want to compete in European competitions and beyond that club football," Taylor said.
Taylor's comments come 24 hours after Lord Triesman revealed English clubs had amassed a debt of £3billion, and that last season's top four teams accounted for a third of that.
David Taylor, the general secretary of Uefa, says clubs face the "ultimate sanction" if they failed to deal with serious debts.
Manchester United and Liverpool are just two examples of Premier League clubs who have been burdened by massive debts after their respective takeovers.
"There would be forms of communication, even warnings, even reprimands before one would ever get to a situation of exclusion but it's absolutely possible," Taylor said.
Taylor expressed concern that clubs are putting their futures in jeopardy by exposing themselves to debt that would require a "white knight" to bail them out.
"We are looking at strengthening the minimal financial criteria and other forms of self regulation that may impose greater standard on clubs that want to compete in European competitions and beyond that club football," Taylor said.
Taylor's comments come 24 hours after Lord Triesman revealed English clubs had amassed a debt of £3billion, and that last season's top four teams accounted for a third of that.
