Newspaper article The Evening Standard (London, England)

Platini's Fury at Banks Who Fund Clubs' Crazy Sprees

Newspaper article The Evening Standard (London, England)

Platini's Fury at Banks Who Fund Clubs' Crazy Sprees

Article excerpt

Byline: Tom Collomosse Football Correspondent

MICHEL PLATINI today claimed people are "dying of hunger" while banks continue to lend to football's richest and vowed to end excessive spending by the world's top clubs.

The UEFA president is the driving force behind the Financial Fair Play rules that would, in theory, reduce the power of Premier League clubs like Manchester City and Chelsea. The initiative would allow clubs to spend only what they earn.

The rules are not due to come into full effect until the 2013-14 season but Platini has again trained his sights on the Premier League by claiming clubs must be more prudent with their finances and obey his rules -- otherwise many would go bust.

"Many clubs will disappear," said Platini (right).

"Banks can't carry on lending to millionaires when people are dying of hunger. We have to be an example, and Financial Fair Play has an ethical value.

"In 2011, the world is in crisis and people everywhere are tightening their belts, so how it is possible that clubs have such high levels of debt? …

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