Search

Man Utd call for Financial Fair Play expansion to prevent another Portmsmouth situation

18:11 14 November 2012

Archant

Manchester United will step up their campaign for greater financial controls in the Premier League later this week.

United are one of the prime movers in an effort to extend UEFA’s Financial Fair Play regulations throughout England’s top flight.

In a conference call today to outline the Red Devils’ first-quarter financial performance, United executive vice-chairman Ed Woodward revealed the matter was on the agenda of a meeting of Premier League clubs later this week.

He insisted the policy was not being driven by self-interest in terms of limiting the players rival clubs could buy, but the need to ensure vast amounts of money coming into the Premier League are not used for chronic overspending, as was the case at Portsmouth.

“It is not trying to restrict teams from competing for players,” said Woodward.

“The reality is Premier League teams, as a collective group of 20 clubs, are extremely well off compared to other European teams.

“We are trying to impose some parameters about how clubs use the funds they are receiving from the collective so we don’t end up with a lot of clubs making annual and regular losses.”

United’s major rivals, Chelsea and Manchester City, are also bound by UEFA’s Financial Fair Play regulations.

Indeed, it has been suggested the two English clubs who have the richest owners in the Premier League are united with the Red Devils over the need to keep spending within reasonable proportions.

“We are supportive of proposals broadly mirroring Financial Fair Play which we abide by already,” said Woodward.

“Those discussions have developed.

“There is a meeting this week with the Premier League to continue to dialogue around that.

“A number of different parameters are being discussed, one of which is break even.”

Related articles

0 comments

Latest Sport Stories

Sammy Moore hugs Dean Cox on the ground as Leyton Orient players celebrate their third goal at Newport County (pic: Simon O'Connor).

Former Coventry City winger happy to continue providing impact from the bench as long as O’s keep winning

Jay Simpson
Great Britain's Christine Ohuruogu in action in the 400m at the IAAF World Championships at the Beijing National Stadium, China (pic: Adam Davy/PA)

Great Britain athlete can’t keep up with United States rival Allyson Felix and finishes last at 2015 World Championships event

United Kingdom
13:57
England head coach Stuart Lancaster has named his squad for the Rugby World Cup (pic: Andrew Matthews/PA)

Lancaster names eight Sarries in 31-man roster for World Cup

Ford
File photo dated 19-05-2012 of West Ham United's Kevin Nolan celebrates with the Championship Play-Off Trophy

On the day he leaves, our West Ham Correspondent looks over the four years that the skipper was at the club

Slaven Bilic

Most read sport

Competitions

Shop till you drop!

Home to top name brands at great prices, TK Maxx is more like a treasure hunt than a shop. Perfect for grabbing a bargain or some hidden gems, you arm yourself with a trolley and go wild.

Read more
Scones, jam and a cup of Earl Grey anyone?

Luxury boutique hotel Flemings Mayfair has recently launched The Drawing Room, London’s most stylish location for afternoon tea.

Read more

Digital Edition

Image
Read the Newham Recorder e-edition today E-edition
Family Notices 24


Our trusted business finder