Platini's proposal to regulate football debt will start now
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Chelsea chairman warn UEFA president Michel Platini's proposal to regulate football debt will start to bite in this summer's transfer market.
All smiles: UEFA President Michel Platini is planning a raft of changes at the top
Chelsea chairman Bruce Buck has warned that UEFA president Michel Platini's proposal to regulate football debt will start to bite in this summer's transfer market.
Platini's plans are expected to be rubber-stamped next week when UEFA's executive committee meet in Switzerland. The rules will not come into effect until the 2012-13 season but the previous year's accounts will need to be presented and Buck believes the changes will have an impact this year.
He said: 'We have looked closely at the proposed rules and starting now we are going to have to be very careful on transfer fees and in salary negotiations because having a positive profit and loss statement will be crucial in getting a UEFA licence and participating in the Champions League.
'Even if we wanted to spend more money we just won't be able to, so we have to do what is necessary to comply with the new rules.'
Platini's proposal will mean those clubs who spend more than their football income will not be granted a licence to take part in the Champions League or Europa League.
Buck added: 'Personally, I think it is significantly different if a club gets money from its owner, rather than going out and borrowing money from a bank and I think the rules ought to take account of that. It is unclear at the moment whether they will.'
The UEFA executive committee will also decide between France, Italy and Turkey as host nation for the 2016 European Championship.