UEFA get tough with Financial Fair Play Rules

UEFA have announced that they are going to withhold 23 clubs’ share of European prize money due to their failure to pay debts to other clubs or tax bills.

Sporting Lisbon, Fenerbahce, Malaga and Europa League champions Atletico Madrid are among the clubs not to have provided UEFA with the required information, but there are no British sides on the list.

The sanctions follow the first elements of UEFA’s financial fair play rules coming into force regarding unpaid debts, with the prize money temporarily withheld pending further investigation.

The action was taken by the UEFA Club Financial Control Body (CFCB) investigatory chamber, chaired by former Belgian Prime Minister Jean-Luc Dehaene.

UEFA said in a statement: “The clubs participating in UEFA club competitions had to provide information regarding the status of any overdue payables as at 30 June 2012.

“The CFCB investigatory chamber has identified that important overdue payables towards other clubs, and/or towards employees or social/tax authorities existed in 23 cases.”

Football Transfer Spending on the rise throughout Europe

Following the close of the window on Friday night, Deloitte has revealed that spending in the summer transfer market has increased year-on-year in the Premier League, as well as France’s Ligue 1 and Germany’s 1.Bundesliga, according to analysis by the business advisory firm, although Italy’s Serie A and Spain’s Primera Division have seen spending reduced.

Deloitte said that player transfer spending by Premier League clubs was around £490 million in the 2012 summer window, an increase from the £485 million spent in summer 2011.

This year was also just short of the £500 million record set in 2008.

Transfer fees to overseas clubs were around £300 million, up almost 50% on the level seen in 2011. This represented 61% of total transfer fees committed by Premier League clubs, compared with 42% in 2011.

Deloitte added that spending in Ligue 1, mainly boosted by the financial power of Paris Saint-Germain, rose to around £190 million and the 1.Bundesliga increased to around £210 million.

However, spending in Italy (around £310 million) and Spain (around £110 million) is at lower levels than the last summer window.