Platini warns of football future implosion

Uefa president Michel Platini said yesterday that unless football takes urgent action to introduce his plans to cap wages and transfer spending, backed by legal force if necessary, the game could “financially implode”, as The Observer reported.

In a speech to the European Parliament he said: “In football, as in the economy in general, the market is incapable of correcting its own excesses, and it was not the Uefa president who said so, it was Barack Obama.”

“The European Club Association, which represents 137 leading teams including Manchester United and Real Madrid, does not support salary caps, nor does the Premier League, but Platini insists that without regulatory action, football is “in danger”.