London, Jan 26 : The Union of European Football Associations (UEFA) has asked football clubs to follow new financial fair-play rules, failing which they could be banned.
UEFA has revealed that total losses among top European clubs had gone up by 30 per cent to 1.6 billion euros (1.34 billion euros) in 2010. Now, UEFA has warned clubs that they face tough sanctions if they fail to implement new financial fair-play rules, The Telegraph reports. UEFA general secretary Gianni Infantino termed this as the last wake-up call for clubs.
According to the new financial fair-play rules, every top-flight European club has been restricted to a loss of not more than 45 million euros (37.7 million euros) over the next two years.
This strict warning from UEFA can have a direct impact on rich English football clubs like Chelsea and Manchester City.
City, which is owned by Sheikh Mansour bin Zayed Al Nahyan, reported a loss of 197 million pounds last year whereas Chelsea registered a loss of 78 million pounds.
These rules will start this season and action would be taken in 2013 on this. (ANI)
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