Platini revisits financial club meltdown fears

UEFA chairman Michel Platini has repeated fears for the financial security of the European game, telling Italian daily Il Sole 24 Ore that “European football is overall not in good (financial) shape”.

In an interview published Sunday, the former France and Juventus star said: “Last year we highlighted a difficult situation where half of top flight clubs were racking up losses.

“After a first look through the accounts in 2009 the situation does not appear to have improved – on the contrary, the losses are rising.”

“This confirms that energetic intervention has become indispensable – this is a situation affecting clubs in each of (UEFA’s) 53 federations,” he added.

UEFA has already drawn up new rules aimed at forcing clubs to strike a balance between receipts and expenditure and Platini said that the continent’s governing body would enact stricter controls from next year as it looks to force the issue under the aegis of their control and disciplinary body.

Platini added that clubs would be formally made to balance their incomings and outgoings “from the 2013-2014 season,” based on accounts filed in 2012 and 2013.

“It is therefore important that clubs start to get their spending under control from now on if they don’t want to get into severe difficulties within a few years.

“The commission controls will be very strict and have already begun,” Platini warned.

“You only have to think of the recent exclusion from the Europa League of Mallorca for non-respect of financial criteria foreseen under the licence system.”

UEFA excluded the Spanish side after the Liga outfit accumulated more than 60 million euros of debt.