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Platini to stick with financial fair play

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Aug. 31, 2012, 7:39 p.m. | Sports — by Associated Press

UEFA President Michel Platini, right, shakes hands with FC Barcelone's Spanish midfielder Andres Iniesta, the best player of the year, during the UEFA Champions League draw, at the Grimaldi Forum, in Monaco, Thursday, Aug. 30, 2012.
© AP

Associated Press

Associated Press

MONTE CARLO, Monaco — UEFA President Michel Platini says there will be no going back on financial fair play rules which oblige European teams to only spend what they earn. 

The break-even rule comes into effect from the 2014-15 season and it is already having an influence, with transfer activity down across Europe.

On Friday Platini said "We will never go back on financial fair play, it was decided unanimously by the clubs, it is a revolution in European football and we will do it."

UEFA General Secretary Gianni Infantino revealed that there was a 36 percent decrease in spending last January, compared to January 2011.

Moreover, the total transfer spend this year — excluding Thursday's and Friday's deals — is 78 percent less than the 2008-2011 average. 

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