EPL Club Owners Discuss Financial Fair Play At Annual League Meeting
EPL clubs Manchester United and Manchester City "are on opposite sides of a new divide in the Premier League: whether the competition should introduce its own UEFA-style financial fair play regulations," according to Matt Scott of the London TELEGRAPH. At the league's annual meeting, the idea of "tighter financial controls being imposed on clubs was advanced by Liverpool" and "gained the support" of a number of its rivals, including ManU CEO David Gill. The delegation from Arsenal also is "believed to have spoken up in favour." Arsenal Owner Stan Kroenke, Liverpool Owner John Henry and ManU Owner the Glazer family are "familiar with restrictive financial regulations through the U.S. sports franchises they own." However, the subject "was not unanimously supported," as Man City officials are "believed to have cautioned that they would prefer to manage their business as they see fit." City Owner Sheikh Mansour bin Zayed al-Nahyan "subsidised spending with [US$68.5M] in cash between June 1, 2009 and the end of May 2011." Fulham Owner Mohamed Al-Fayed financed the team's rise through the leagues with "soft" loans. Fulham has "also historically expressed the view that they would not endorse a system that 'kills the dreams' of others." EPL exec staff now has been "tasked with drawing up a report on what proposals could be introduced." One option would be "to adopt wholesale," the UEFA financial fair play regulations (London TELEGRAPH, 8/22).