Football Talk - Manchester City ruining English clubs! - 04/08/09
Premier League clubs risk financial ruin if they attempt to compete financially with Manchester City, according to UEFA general secretary David Taylor.
City, backed by their wealthy owners from Abu Dhabi, have embarked on a lavish summer spending spree this summer, with the likes of Carlos Tevez, Roque Santa Cruz and Emmanuel Adebayor, moving to Eastlands. But Taylor believes the club, and Spanish giants Real Madrid, are setting a dangerous precedent:
"I would say in this financial climate, it is surprising, a little bit destabilising of the market," Taylor told the BBC. "It is raising the ante in terms of the player costs, in terms of the general market place, which is not a thing that gives us a great deal of comfort in these difficult times. There is certainly disquiet in the corridors of power here (at UEFA).
"There are stories concerning some English clubs that are of significant concern," he said. "There are a number of English clubs where the value of the club itself has fallen significantly and they are effectively on the market. We've seen what has happened in recent years with a number of very high-profile clubs, Leeds United for example. They fell into serious financial difficulties by over-extending themselves.
"In this current economic environment, I would never say never to anything like that. Clearly we do not see that as imminent but the concern is that we have to establish a stronger financial basis on which clubs can compete."
