ManU and Man 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. It gained the support of a number of its rivals, including ManU CEO David Gill. The delegation from Arsenal "is believed to have spoken up in favour." Arsenal Owner Stan Kroenke, Liverpool Owner John Henry and ManU Owners, the Glazer family, are familiar with "restrictive financial regulations through the U.S. sports franchises they own." However, the subject was not unanimously supported. Man City is believed "to have cautioned that they would prefer to manage their business as they see fit." City Owner Sheikh Mansour bin Zayed al Nahyan subsidized spending with £43.3M in cash between June 1, 2009 and the end of May '11. Chair Mohamed Fayed financed Fulham's rise through the leagues with "soft" loans. Fayed has also historically expressed the view that they would not endorse a system that "kills the dreams" of others. It all meant the EPL exec staff 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 (TELEGRAPH, 8/22).
Former national football team Manager Cho Kwang-rae "is demanding the Korea Football Association pay him for the remainder of his contract despite being fired along with his coaching staff in December following a loss to Lebanon in a World Cup qualifier," according to Jung Min-ho of the KOREA TIMES. The issue has arisen after the Korean Commercial Arbitration Board ruled that "the KFA has to pay Brazilian Coach Alexandre Torreira da Gama Lima, for the seven months that were left on his contract though he was fired with Cho." The ruling is expected to push the local football authority to also give Cho what he would have earned if he had remained in his post. Another three coaches recently agreed to accept four months pay after having their contracts terminated (KOREA TIMES, 8/23).
Ligue 1 club Paris St. Germain should look at Bayern Munich's spending as "the model to follow," according to Marcelo Martins of SPORTUNE.fr. The French club has spent so much money since the arrival of the Qatari Investment Group that "it is almost impossible" to envision them and the soon-to-be enforced UEFA Financial Fair Play rule coexisting. In Europe, the club to model on economic grounds is Bayern. Its system is already financially sound, and the company "constantly ends its seasons in the positive." PSG is seeking a new shirt sponsor. It is currently under contract with Emirates through '14 at €3.5M ($4.4M) a year, a figure that is "very little." In this domain, Bayern "is way ahead" having recently agreed to a €30M ($37.6M) annual deal with Deutche Telekom through '17. PSG "should follow what Bayern has done" and institute a salary cap. The German team has set €10M ($12.5M) as the maximum salary it will pay a player. Philipp Lahm, Bastian Schweinsteiger and Franck Ribery are the three best-paid players on the team, and their contracts each max out at €10M. When it comes to the budget, both clubs have a financial capacity of €300M ($376.3M) for the '12-13 season. In PSG's case, all the money has come from an investor, whereas Bayern has managed to do this because "of its ability to control its cost and revenue streams." If PSG is to "respect" the financial fair play rules, "the road looks to be long" (SPORTUNE.fr, 8/23).
The European transfer market is running "in slow motion" this year, according to L'EQUIPE. Ligue 1 club Paris St. Germain is the exception to a European market "hit almost everywhere by the crisis." In England, Manchester City is not the "locomotive of the past seasons." Head Coach Roberto Mancini had spent €423M since his arrival in '09, but this summer the team has only recruited Jack Rodwell from Everton for €15M ($18.9M). The big spenders have been Chelsea (€80M/$100.7M), ManU (€54M/$67.9M), and Arsenal (€43M/$54.1M). The English Premier League is the league "least affected by the crisis" in Europe thanks to the ever-increasing domestic and int'l TV rights. In Italy, "there are signs the crisis" has taken its toll. Serie A has seen 672 players sold compared to the 512 that have been bought. The two big spenders have been Juventus (€47.5M/$59.8M) and Roma (€36.2M/$45.5M). In France, Ligue 1 has Europe's big spenders in PSG. The club from the capital has spent €140M ($176.1M) this summer or two-thirds of all the money spent by Ligue 1 teams. In Spain, only €85M ($106.9M) has been spent by La Liga clubs including €33M ($41.5M) by Barcelona and nothing by Real Madrid to this point. In Germany, the Bundesliga's top spenders have been Bayern Munich and Borussia Dortmund (L'EQUIPE, 8/23).