Platini warns clubs to cut spending or face European ban

Posted Sunday, September 02, 2012 by YAHOO Sport

Uefa president Michel Platini has revealed that he has given 27 clubs a deadline to make sure they adhere to the strict Financial Fair Play rules, or face a ban from European competition.

The former France star added that the move comes after a number of clubs started reneging on scheduled payments for players.

“They were told to sort their finances out before June 30. Then they had until July 15 to discuss any problems,” Platini told reporters. “The next check on September 30 will be vital. For clubs who can’t follow the rules of the Financial Fair Play system, it is over and out of Europe.

“We are protecting clubs who have sold players and struggle to receive payment. A number of clubs have had to chase their money for years.”

Despite the regulations, European champions Chelsea continued to spend this summer, totaling an outlay of 80 million pounds on the likes of Eden Hazard, Oscar and Marko Marin.

On the other hand, Premier League champion Manchester City was much more prudent during the window, spending a modest 15m pounds on Jack Rodwell before a frantic deadline day saw five new faces arrives for an estimated 30m pounds, as its reduced its outlays in light of the dangers FFP hold.