By Neeraj Gangal
Man City's Sheikh Mansour among those who may face curbs on spending power - paper.
English football’s super-rich owners face drastic curbs on their influence under Uefa proposals, according to a report by The Times daily on Saturday.
Michel Platini, the Uefa president aims to end “financial doping" and in a 60-page document seen by the UK-based daily, Uefa sets out its detailed plans to force clubs towards break-even, allowing them to spend only what they earn.
"Owners would be allowed to inject cash to cover losses for a transitional period, but the amounts will be restricted and closely monitored. Over the initial three-year period of regulation up to and including 2015, owners would be allowed to cover losses totalling €45 million (about £40 million). The 'acceptable deviation' from break-even would then fall to £30 million over three years and then less, with the amount to be determined," The Times said in its report.
"In other words, an owner such as Sheikh Mansour would eventually be permitted to put less than £10m a year into Manchester City on average, unless the money is spent on infrastructure or the youth team, which have no limits on investment. That compares with City’s most recent loss of £89.69m," the daily added.
In December, the English Football League revealed that Abu Dhabi-owned Manchester City spent the most money on agents' fees over the past year as the club signed up top players in its attempts to join the elite.
Funded by the ruling family of Abu Dhabi, the club has spent about $328 million on players since Sheikh Mansour bin Zayed Al Nahyan’s takeover in September 2008 to the end of last year.
Between October 1, 2008 and September 30 this year, it paid agents 12.9 million pounds ($21.2m), the Premier League said.
In September 2009, it was reported that Premier League clubs' spending on new players dropped by 10 percent to 450 million pounds ($730m) during the close-season transfer window which shut on Tuesday despite the best effort of Abu Dhabi-owned Man City.
Even Man City's 120 million pounds spree failed to see the top flight match the record sum of 500 million pounds spent a year ago.
Why did this come now? Why did UEFA think of this at times when Real Madrid paid 50 million plus and 67 million plus for Zidane?
@Yaser, UEFA may feel that the budget imbalance is killing the sport. Soccer is not purely a competition game, players need to cooperate with each other, and even teams benefit where there is nto a 100% winner as the game could lose interest. The small fish needs to have a chance to win, and the big one should be defeated from time. This creates interesting dynamics regarding distribution of income between the different teams ,and within the same team about payment to different players. I do nto follow soccer, I just know the theory of these kind of games, but this may be the explanation you were looking for. If you or any reader is mathematically inclined, there is a really cool book titled: The Economic Theory of Professional Team Sports: An Analytical Treatment