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In the Chairmen meeting held yesterday, the decision to implement the Financial Fair Play (FFP) deal was put to vote. Among the 20 Chairmen who were asked to vote, 13 voted in favour of implementing it, 6 voted against it, with one abstention.
The Chairmen agreed to cutting players wage bills from the next season and also to the idea of restricting the club losses to £105 million over a span of three years. For those clubs whose wage bills exceed £52 million, they are allowed to increase their wages by £4 million per season for the next three years, although this does this does not cover the money coming from commercial or match day incomes.
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Richard Scudamore, the Premier League Chief Executive, insists that any club violating the new spending controls is likely to face deduction of points. He said “As all things in our rulebook you will subject to a disciplinary commission. The clubs understand that if people break the £105m we will looking for the top-end ultimate sanction range – points deduction.” He went on to say “Normally we stay silent on sanctions as the commission has a free range, but clearly if there is a material breach of that rule we will be asking the commission to consider top-end sanctions.”
Scudamore confirms an “absolute prohibition” of losses over £105 million, a figure only seen by Manchester City, Chelsea and Liverpool so far, according to latest accounts. The sanctions will be possible only in 2016.
He added “A new owner can still invest a decent amount of money to improve their club but they are not going to be throwing hundreds and hundreds of millions [of pounds] in a very short period of time.” He followed by saying “While it has worked for a couple of clubs in the last 10 years, if that’s going to be done in the future it’s going to have to be over a slightly longer term without the huge losses being made.”
Scudamore says “I think at £105m you can still build a very decent club with substantial owner funding but you have to do it over time, not in a season.”
Source- ESPN Soccernet
