UEFA’s general secretary David Taylor has lost his marbles. He’s warned clubs that they may face being banned from competing in European competitions if they continue to carry excessive debt.
“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,” said Taylor. “We are looking at strengthening the minimal financial criteria and other forms of self regulation that may impose greater standard on clubs that want to compete in European competitions and beyond that club football.”
This is an idea that will never get off the ground. Football clubs operate in a free market where they can sell and buy players at prices agreed by mutual consent. If clubs want to run themselves into massive debt, that’s their responsibility. They will ultimately be accountable to their shareholders or their bank managers, and not UEFA.
Here’s another example of how ridiculous the idea is. Would UEFA ban Chelsea from playing in the Champions League because the club has debts of £736 million even though owner Roman Abramovich could easily afford to wipe out that debt anytime he wants? And would UEFA consider banning Manchester United, current Champions League title holders, because the Red Devils have a debt of £764 million?
This is another tactic by UEFA to limit the power and control of Premier League clubs. Sure, I agree that Premier League clubs should not be generating significant amounts of debt, but a salary cap would be a better move than banning clubs from Europe. A massive part of the problem is that professional footballers are getting paid too much money especially when you consider the fact that player’s wages are as much as 90 percent of total revenue at some clubs.
With tactics like these by UEFA, the federation is simply sending our empty threats to try to convince football clubs to reduce their debts. The problem is that when these ideas are so idiotic they make UEFA look like a laughing stock once again.
So, this will achieve one of three things: (1) everyone gets new accountants to count numbers differently and put everything “above board” on paper, or (2) the rebirth of the G-14 who say “screw you!” and play in their own competition. After all, in addition to the English clubs, Real Madrid, Barca, and most Italian giants would fall afoul of UEFA's rules.
Just think of the TV deal those clubs could get. And if they didn't have to give a big slice to UEFA, they'd be out of debt in no time!!!!
Congratulations on writing your own obituary, UEFA!
SB