Uefa fire debt warning

Uefa fire debt warning
Clubs could face European exclusion

Last updated: 8th October 2008
Uefa general secretary David Taylor has warned clubs with heavy debts they could be excluded from European competitions.

Football Association chairman Lord Triesman revealed on Tuesday that English clubs currently owe an estimated £3billion.

Triesman stated that such debts posed a 'terrible danger' in the current global climate and Taylor shares his concerns.

He is worried about the problem across the continent and has threatened to take action against any club that fails to deal with serious debts.

"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 told the Leaders in Football Conference.

Taylor also 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.

He said: "We are looking at strengthening the minimal financial criteria and other forms of self regulation that may impose greater standards on clubs that want to compete in European competitions and beyond that club football."

Stability

Uefa have set up a working party to investigate ways of controlling the spiralling debt.

Taylor said: "This is an attempt to find greater financial stability, especially at a time when banks are failing. Governments might bail out banks but they are not going to bail out a football club,

"The current system needs to be looked at, it needs more transparency. We need to look at which areas we regulate to ensure the long-term stability of the clubs.

"It is not something that will happen overnight, we are still at the stage of investigating and developing solutions, but we are concerned about the longer term."

Convinced

Taylor also echoed Triesman in dismissing the current 'fit and proper persons' test for ownership as of little use in establishing the financial credentials of people looking to take over clubs.

He added: "We welcome investment in football but we want stronger roots for that investment and this is an attempt to find greater stability.

"Many new owners or investors are not giving gifts to clubs. In most cases they are loans and ultimately the club is indebted to its benefactor.

"There are no solutions yet but we are all convinced something needs to be done."

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Something to be concerned about?

Hypocritical bas**rds are Uefa, what about all the money sloshing round Nyon or wherever uefa are based. How about all the dodgy little things that go on to allow Uefa to let a country or city host the European cup final.

How about having a fit and proper persons test on people who want to join organisations like Uefa or Fifa, like that tit Galliard for instance.

Rant over 

Any action in this direction will only hasten the formation of a break away European super league.
Football is now big business in the form of revenues and media exposure, and will ultimately steam roller insignificant entities such a Mr. Blatter and his cohorts

The F.A. are hardly in a position to adopt a lofty attitude as they owe something like £350m for Wembley.

Chief in salary cap warning
Triesman admits fears over spiralling debt

Last updated: 8th October 2008


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Triesman: Salary cap warning

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Football Association chairman Lord Triesman has warned a salary cap may need to be enforced in English football.

Speaking at the Leaders in Football conference at Stamford Bridge, Triesman revealed English clubs face an uncertain financial future as they currently owe an estimated £3billion.

Triesman fears the current economic climate could cause major damage to English football, with it having been suggested some clubs could even go bust.

Bolton chairman Phil Gartside raised the idea of a salary cap to safeguard clubs' finances and now Triesman admits those measures may need to be carried out as he looks to resolve the game's financial problems.

Triesman believes wage levels have a damaging effect at all levels of the game in England and may no longer be sustainable in the global credit crisis.

"The reason I made the point about the 12 per cent per annum growth in wages is because some of the money is flowing through the clubs inevitably, including some of the money that is in their debt package is in wages," Triesman told Sky Sports News.

"I will be told in no doubt, if you want to compete at the highest levels you have got to be competitive in the wages market as well.

Volume of debt

"I just make the point there is a volume of debt which becomes very significant in those circumstances and people need to think about it.
"I am told by people right through the football pyramid, down in the leagues in the Blue Square Premier for example, below the Football League that the issues of working with agents, trying to deal with wages right through the system is now impacted.

"This is like a waterfall, the water is reaching right down to the ground-level.

Asked if a salary cap needs to be introduced, Triesman said: "People in the clubs are the only ones who will be able to judge that.

"I start with the general proposition that we have in this business, as in so many other businesses, we have a level of debt which should cause us to stop, think and review where we are."

The F.A. are hardly in a position to adopt a lofty attitude as they owe something like £350m for Wembley.

touche
or maybe better, own goal!!

Oh and heres Prof. Tom Cannon on SSN throwing his tuppence worth in!

I see Rio Ferdinand has been on Sky Sports News speaking about teams being deducted points if their fans are caught chanting racial or homophobic abuse.

I see he made no mention of chants about disasters though!

Mancs would see themselves with minus points at the end of the season.

Racial abuse, is that really still a problem, even those Spurs chants about Campbell were in no way racial.

Good luck with that is all i say. Soon they'll realise the amount of money they'll lose in not allowing the biggest clubs both on the field and with the highest potential revenue's.