International

UEFA happy with FFP progress

2014-10-21 12:16
Michel Platini (AFP)

Rome - Football clubs must learn to manage their budgets responsibly, UEFA president Michel Platini said Tuesday, in a speech in which he also called for new rules banning the practice of third-party player ownership.

"We have started to put football on the right track," he said in a speech to European Union sports ministers, meeting in Rome as Italy is holding the rotating presidency of the bloc.

"Each of us must measure how far we have come.

"Aggregate losses among European clubs, which had reached €1.7 billion euros in 2011, fell to €800 million in 2013, a drop of more than 50 per cent in less than two years," Platini insisted.

He said that UEFA's financial fair play came down to "two sayings: 'You should live within your means' and 'There is a line that must not be crossed.'"

UEFA imposed sanctions on Manchester City and Paris Saint-Germain, the champions of England and France, in summer for failing to comply with financial fair play rules.

Turning to third-party player ownership, a practice that sees agents or other investors buy shares in young players as if they were a commodity in return for a percentage of their future transfer fees, Platini denounced it as against "human dignity."

"This terrible practice, previously seen only in South America, is now sweeping through the whole of Europe," UEFA's boss said.

Top players from Argentina and Brazil, like Neymar, Carlos Tevez, Javier Mascherano, Anderson and Hernanes, have been brought to Europe through transfer deals involving payouts to third-party owners.

"There is no place for third-party ownership of players in European sport," Platini warned.

"A tailor-made legal framework is therefore required. If we fail to deal with this properly, it will not just be a defeat for UEFA, nor even just for the sports movement, but for all of Europe."

Read more on:    uefa  |  international  |  michel platini  |  soccer
NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Live scoring

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

The 2017/18 Absa Premiership season is under way. Can Bidvest Wits defend their title? Will Soweto giants Kaizer Chiefs or Orlando Pirates emerge victorious? Or will the bookies' favourites, Mamelodi Sundowns, taste success for a record eighth time? Stay glued to Sport24 to find out!

Latest blogs
Vote

Do you think SAFA made the right choice in appointing Stuart Baxter as head coach of Bafana Bafana?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.