Platini says new rules will target club debt

LONDON: English Premier League clubs and others must stop amassing huge debts and new regulations will be drawn up to regulate team finances, UEFA president Michael Platini said on Tuesday.

In an interview in The Daily Telegraph, the Frenchman said a UEFA committee would meet next week to begin devising new rules to protect the financial welfare of European clubs.

"We have three years to regulate the situation," he said. "The idea is not to kill the clubs but to help them have better balance. The philosophy to participate in our competitions is you must not spend more money than you receive.