Adopt Arsenal money model - Uefa
Baku, January 12 (AZERTAC). Arsenal have been held up as a shining example by Uefa as European football`s governing body prepares to implement tough new financial restrictions.
From the 2011-12 season, clubs must break-even over a rolling three-year period or risk a possible ban from Uefa European competitions.
Uefa compared Arsenal`s approach to that of clubs with super-rich owners.
"What model waits for a knight rider on a horse and then rides away?" said Uefa general secretary Gianni Infantino.
Arsenal boss Arsene Wenger`s meticulous and sensible approach to spending has helped the north Londoners strengthen their finances over the last 10 years, as some of their rivals` own position has weakened.
Having moved to the Emirates Stadium in 2006, Arsenal now turn over more than £300m a year (including revenue from property sales) and made a pre-tax profit of £35m in 2009.
"Ten years ago Arsenal reported less income than Chelsea, Liverpool and Newcastle," Infantino added.
In recent years, the Premier League has seen an influx of wealthy foreign businessmen acquiring control of clubs and embarking on lavish spending on players.
This has left some at risk of failing to adhere to Uefa`s impending restrictions.
With recent losses of £121m, Manchester City would appear to be the English club with most to do to satisfy Uefa`s rules, although one respected football financial blogger has suggested how the club could break-even.
Uefa president Michel Platini also does not foresee a problem with City after revealing that he had been given personal assurances by the club.
Under the new rules, Uefa would place clubs at risk of overspending in a special category and closely monitor them.
In addition, clubs continue to live beyond their means and risk falling into serious financial difficulty, just as Leeds did within the last decade and more recently Portsmouth, who in February 2010 became the first Premier League club to go into administration.
However, Platini insisted that the new rules are not designed to target Premier League clubs in order to curb their success in the Champions League, in which an English club reached the final for five straight years prior to the 2009-10 campaign.
Uefa`s latest figures illustrate that clubs across Europe have yet to curb their financial outlay in order to fall in line with the impending restrictions.
Its review showed that more than half of 655 clubs reported a loss in 2009 and that the combined deficit across Europe`s 53 football nations was £1bn.
Spending on player wages is up almost 10%, with clubs spending 64% of their income on these and other staff expenses.
European Club Association chairman Karl-Heinz Rummenigge and his 197 members are fully behind Uefa`s new proposals.
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