NYON, Switzerland (AP) — UEFA has passed rules designed to curb European soccer clubs’ excessive spending, and end an era of so-called “financial doping.”
UEFA’s ruling executive agreed on Thursday to set limits on wealthy club owners subsidizing losses incurred by paying high transfer fees and salaries.
Owners will be allowed to cover losses of up to a maximum of $55 million over an initial three-year period, starting in 2012.
UEFA wants clubs to break even by spending only what they earn from soccer-related income.
