25 Feb 2010

European football clubs financially unstable

7:31 pm on 25 February 2010

Players' wages are still rising in European football with some clubs spending more than their entire revenue on them, a UEFA report says.

UEFA president Michel Platini says many clubs operating on a sustainable basis are finding it increasingly hard to compete with those that incur costs and transfer fees beyond their means.

Plantini says many European clubs are relying on debt or shareholders' contributions to finance operating activities - an unhealthy and unfair way to operate.

He says there is now overwhelming support in the football community for financial fairplay.

English clubs account for 56 percent of commercial debt among Europe's 732 first division clubs.