UEFA wants to create a new system to regulate the finances of Europe’s wealthiest clubs during the current global financial crisis.
European football’s governing body said it will set up a panel to recommend how to limit the debts and spending of clubs that play in the UEFA Champions League.
“The indications we are getting from the vast majority of clubs are such that in these times of global economic crisis, these initiatives are very well timed,” UEFA general secretary David Taylor said after a two-day meeting of the executive committee.
The UEFA executive committee accepted a progress report examining options such as salary caps to restrict clubs’ spending and limit their debts.
UEFA revealed its preferred option for a system of issuing financial licenses to clubs. Having a license would be a condition of playing in the Champions League or Europa League, which succeeds the UEFA Cup next season.
Taylor said the UEFA executive committee had discussed using fewer than eight stadiums for the 2012 European Championship, scheduled to be played in Poland and Ukraine. The preparations have been hindered by delays to stadiums and infrastructure.
“We will not have more than eight stadiums. We may have less,” Taylor said.
Taylor said UEFA was “optimistic” about starting to sell broadcast and sponsorship rights for Euro 2012 later this year despite a financial downturn.
