The release of the official accounts for the year to 31 May 2009 showed Sheikh Mansour has invested £395m in the club with £305m of loans now turned into shares. The £92.6m loss was the talk of the papers, but the real concern for the City project lies in UEFA’s upcoming financial rules.
Articles tagged ‘Michel Platini’
Platini pushing ahead with ‘financial fair play’ rules
17th September 2009
This week has seen Michel Platini’s plans for ‘financial fair play’ accepted in principle by Uefa. Exactly how this will work is yet to be agreed and negotiations are set to continue for the rest of the season. Only then can any new rules be ratified.
Platini hasn’t denied that plans to stop clubs from spending more than they make from revenues is intended to prevent ‘sugar daddies’ like Sheikh Mansour and Roman Abramovich coming into the game and transforming …
FA chief executive Ian Watmore condemns possible Uefa restrictions
10th August 2009
As speculation continues that Michel Platini and Uefa may seek to use the credit crunch and the high levels of debt at some clubs as a justification of bringing in salary caps, the new chief executive of the FA has given another negative reaction.
“Anything that makes the competition stronger and more deep, I think has got to be welcomed. We don’t want to see the Premier League becoming a top- four procession every year.
“If …
