Financial supervision for European football

At its congress in the Danish capital of Copenhagen the executive committee of the Union of European Football Associations UEFA approved the establishment of a financial supervisory committee for football clubs. The business paper Jornal de Negócios asks: "Was the UEFA right to take this decision? Yes, but only if it doesn't try to introduce socialist principles into the management of an industry in which the rules of the market have so far proven to be very effective. Players' salaries are a good example: UEFA wanted to impose upper limits. It even contemplated adopting the management model used by the US's Major League Soccer. But this would only make sense if UEFA rather than setting a fixed amount coupled spending on salaries and transfers to a certain percentage of a club's income. That percentage could be between 50 and 55 percent. This would guarantee the financial fair play UEFA is striving for and prevent management mistakes that could for example result in the bankruptcy of historic institutions."

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