A group of British lawmakers have backed UEFA President Michel Platini’s plans to stop the “financial doping” of Premier League clubs.
A policy in a report by the All Party Parliamentary Football Group aims to limit clubs’ expenditure to a proportion of revenue, to stop them spending beyond their means to achieve success.
“The financial world has learnt a serious lesson in the last year, that living by the old adage ‘If it ain’t broke, don’t fix it’ can lead to catastrophic results,” Alan Keen, chairman of the 12-member panel, said in a statement. “Corrective action needs to be taken now to address serious weaknesses in the governance of the game as well as severe financial imbalances.”
“We are not here to tell people who currently run the game how to do their jobs. However, we do have a responsibility to speak up for those who care deeply about the game and its future, and to start a national debate about some of these important issues.”
Michel Platini, head of European football’s governing body, is trying to toughen club licensing laws to prevent debt-laden teams from dominating the top-tier European leagues and the Champions League.
Manchester United and Chelsea owed more than a combined £1 billion pounds when they faced off in last year’s Champions League final.
The All-Party Parliamentary Group is composed of politicians from all parties in UK Parliament, and although it has no legislative powers, plays an important role in lawmaking.
