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Sunday, October 2, 2011

12BET UEFA Review 10/2

 MADRID - Clubs should be wary of billionaire owners who spend enormous amounts on transfer fees and wages ahead of new rules that could ban clubs from European competitions for failing to balance the books, UEFA legal director Alasdair Bell said Friday."Clubs should not exist or continue to exist on the back of, shall I say, donations from wealthy benefactors who could be here one day and gone the next, leaving the clubs in a parlous position financially," Bell told a conference on law and football in Madrid.Under financial fair play regulations, clubs face being barred from the Champions League and Europa League if they cannot break even on football-related business.Those rules will have particular resonance for clubs like Manchester City, which lost 121 million pounds ($191 million) last year after Sheik Mansour Bin Zayed Al Nahyan spent $1 billion to transform the team, lavishing more on wages alone than the club's entire turnover.Bell told The Associated Press that Manchester City would be among the clubs scrutinized when the regulations come into full effect for the 2013-14 season.City recently announced the sale of naming rights for its City of Manchester Stadium, which became known as the Etihad Stadium in a 10-year sponsorship deal reportedly worth 100 million pounds ($159 million) with the Abu Dhabi-based airline.


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