UEFA selects teams of experts to monitor ‘financial fair play’ at Europe’s top soccer clubs
By APWednesday, November 11, 2009
UEFA picks experts to monitor top clubs’ finances
NYON, Switzerland — The European soccer governing body has selected a team of independent experts to monitor the finances at the top soccer clubs.
UEFA said Wednesday that former Belgian Prime Minister Jean-Luc Dehaene and eight financial and legal consultants have formed the Club Financial Control Panel. It can inspect accounts and recommend banning clubs from the Champions League.
They include former Celtic chairman Brian Quinn, who was once the Bank of England’s deputy governor.
UEFA president Michel Platini wants the panel to help create “financial fair play” across Europe’s 53 soccer nations.
Platini believes high spending on player transfers and salaries can’t be sustained, and wants clubs to break even on soccer-related business by 2012.
