September 1 – Despite frenetic transfer activity in the final few hours of the summer window, the fact that many of the major deals are loans reflects UEFA’s financial fair play rules which Michel Platini says are having the desired effect.
Brainchild of the UEFA president, the concept was to force Europe’s clubs to break even and avoid massive losses.
“UEFA has shown that it can shoulder its responsibilities and that the set-up we have works,” says Platini who told reporters last week that cumulative losses of European professional clubs have been more than halved, from €1.7 billion to €800 billion.
“This proves that we are on the right track and that we are moving from a vicious spiral to a virtuous cycle with respect to the management of most European clubs. The clubs are playing along.”
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