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Tuesday 21 November 2017

We'll pass UEFA test vow United

Manchester United insist they will pass the new UEFA 'financial fair play' test which were today set to became part of European football's rules.

Under the regulations, being rubber-stamped by UEFA's executive committee today, clubs in European competition will only be allowed to spend what they earn -- although some leeway will be given for the first six years of the scheme.

Clubs will also still be permitted to have large debts, but only if they can service the interest payments as part of their overall spending.

In the Premier League, the new rules would threaten the participation of Manchester City, who made a £93m loss last year, in European competition as well as Chelsea -- who made a £47m loss -- unless they change their spending habits.

Arsenal and Tottenham both made a profit and would pass the test, and Manchester United claim they would too -- despite payments of £45m annually to service the interest on the owners' £507m bond scheme.

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