Scudamore Believes EPL Clubs Will Be Able To Adhere To UEFA's New Financial Fair Play Rules
EPL CEO Richard Scudamore admits clubs like Chelsea and Man City "will struggle to adhere" to UEFA's Financial Fair Play rules, but he is confident they will achieve the requirements, according to the SUNDAY TIMES. The regulations, which come into full effect in '13-14, state clubs "must break even over a three-year period." Scudamore said, "If you look at what has happened with Manchester City's latest accounts, when you see what has happened with Chelsea's, there has clearly been some action taken by those clubs to get themselves into the zone where they should be able to qualify. If you look at the trajectory and direction of the revenue -- it is about not making losses and one of the easiest ways of not making a loss is to increase your revenue." Man City's pre-tax losses for '11-12 were £93.4M -- half that of the year before -- while revenue had increased by 51% to £231.1M. Chelsea recorded a profit over the past financial year "for the first time" since Roman Abramovich bought the club in '03 (SUNDAY TIMES, 1/13).