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(MENAFN - The Peninsula) 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 yesterday.
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.
"If (Manchester) United have 300m euros and they spend 400m—no! If Liverpool pay 60m euros (interest) every year to the banks, it's a lot of money.
"Every owner has asked me for a better philosophy, for better transparency. In Germany, debts are not accepted. In England they are."
Liverpool, who are co-owned by Americans George Gillett and Tom Hicks have debts estimated at around 245m sterling, a situation Platini says makes them very unattractive to prospective buyers.
"By putting in new rules we will protect the business of (Chelsea owner Roman) Abramovich, Massimo Moratti (at Inter Milan) or Manchester United owner (Malcolm) Glazer.
"I am sure they want to sell but who will buy clubs with so many debts? Who would be that stupid? If you regulate the system, many people will be interested in buying. I am not a big economist but I am logical."
Italian champions Inter said Platini was being unfair.
"We understand the institutional worries about the economy of European football, but in citing Inter he forgets that our club does not have debts with the banks," a statement said.
"Inter is not among those clubs that, from this point of view, can worry the UEFA president."
Platini welcomed the return of Chelsea striker Didier Drogba following a three-match Champions League ban imposed after last year's semi-final when he confronted the referee and swore to television cameras.
"Drogba's a good guy. I know him very well. He understands now that he made a mistake. Everybody does. He will come back better, stronger," Platini said of the Ivory Coast international who returns for Chelsea against Atletico Madrid today. Meanwhile, Iran will host Iceland and Macedonia in Tehran in November as they prepare for a strong 2011 Asia Cup showing, the Mehr news agency reported yesterday.
The national squad or Team Melli, a traditional powerhouse of Asian football, will be managed by Iranian-American Afshin Qotbi, who won a vote of confidence as coach in July despite failing to take the team to its fourth World Cup appearance.
Iran are set to play Iceland on November 8 and Macedonia 10 days later in Tehran's Azadi stadium, both teams having a lower FIFA ranking than the Iranians themselves. Iran is ranked 62 while Iceland is 87 and Macedonia is 66.
Iran, Asian champions in 1968, 1972 and 1976, are scheduled to play in Group E against Jordan on November 14.
Iran currently lead their group, which includes Singapore and Thailand, with four points from two games.
Qotbi called Javad Nekonam and Masoud Shojaei, both playing for Osasuna in Spain, into his most recent squad. Two teams from each of the five Asian groups will make it to the finals in Doha in 2011.
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