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This rule will reign in clubs who spend beyond their income.
Watch how it gween ketch BoyU & Chel$ea and possibly impact Champions League participation.
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Platini warns European clubs over spending rules
NYON, Switzerland (AP) -- UEFA President Michel Platini says top European football clubs must "face the music'' if they fail to control their spending.
Platini says UEFA has the courage to bar loss-making clubs from its lucrative Champions League after "financial fair play'' rules are enforced in July.
Platini says clubs failing new financial tests "would have to live with the consequences.''
UEFA's review of 655 clubs' recent financial books shows more than half reported a loss in 2009.
Their combined deficit was $1.55 billion, despite sharing record revenues of $15.1 billion.
European clubs leader Karl-Heinz Rummenigge says clubs will adapt because exclusion from the Champions League means "complete meltdown.''
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Watch how it gween ketch BoyU & Chel$ea and possibly impact Champions League participation.
------------
Platini warns European clubs over spending rules
NYON, Switzerland (AP) -- UEFA President Michel Platini says top European football clubs must "face the music'' if they fail to control their spending.
Platini says UEFA has the courage to bar loss-making clubs from its lucrative Champions League after "financial fair play'' rules are enforced in July.
Platini says clubs failing new financial tests "would have to live with the consequences.''
UEFA's review of 655 clubs' recent financial books shows more than half reported a loss in 2009.
Their combined deficit was $1.55 billion, despite sharing record revenues of $15.1 billion.
European clubs leader Karl-Heinz Rummenigge says clubs will adapt because exclusion from the Champions League means "complete meltdown.''
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.