Manchester United chief executive David Gill believes that Premier League clubs have no excuses if they fail to comply with UEFA’s proposed rules on club expenditure.
The ‘financial fair play’ rules will start in 2012, but with a transitional period for three years after which all clubs will have to show they have broken even.
Currently, Manchester United have recorded losses in two out of the last three years once interest payments on their debts have been taken into account, but Gill insists there is enough money within English football to enable all clubs to balance their books.
“I think there is enough money in the Premier League that it should not be an issue,” Gill said. “If they are not complying now the transition mechanism means they can get their house in order.
“The Premier League is one of the wealthiest leagues in the world and there is no reason why they should not be able to comply with the rules.”
Gill was confident, however, that United would not fall foul of the spending rules despite the Glazer family’s debts.
“We have seen what the proposals are and we would meet the financial break-even rules,” he said. “We as Manchester United have always been run professionally and will continue to be run professionally.”
Gill was speaking following a meeting of the European Club Association (ECA) in Manchester where member clubs announced they had persuaded UEFA to delay full implementation of the new rules from 2012 to 2015.
Clubs’ finances will be assessed over a rolling three-year period to ensure they comply with the UEFA rules before they are allowed to participate in the Champions League of Europa League.
A UEFA proposal that the new plans apply only to clubs with a turnover of 50million euros is being opposed by the Premier League and the ECA who say all clubs should be subjected to the same test.