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UEFA chief Platini blasts Real's 80m bid for United star Ronaldo (and for once it's not the fault
Published : 11 Jun 2009 16:58:21Rss feed
Michel Platini has broken his silence about Real Madrid's 'excessive' spending spree to warn that the transfer system must change. The UEFA president has previously been outspoken in his criticism of how the spending power of English clubs is unsustainable. And he has now hit out at Madrid after their £56million signing of Kakafrom AC Milan was followed with an £80m offer for Manchester United andthe promise of more signings to come. 'These excessive transfers are happening almost every day,' Platini told AFP. 'These transfers are a serious challenge to the idea of fair play and the concept of financial balance in our competitions.' The Frenchman has vowed to clean up the financial side of the game and create a level economic playing field. 'UEFA are working hard with clubs to set up a new set of rules as soon as is possible to clean up the system and give it a more solid, more transparent base,' he said. 'That is our top priority today.' Platini is a critic of the level of debt carried by the Barclays Premier League 'Big Four' of Manchester United, Liverpool, Chelsea and Arsenal - estimated recently at £2bn - and wants powers to bar debt-laden clubs from the Champions League and newly formed Europa League. He called Manchester City's £100m bid to sign Kaka from AC Milan in January 'ridiculous from a social, football and financial point of view'. Ronaldo's proposed transfer was revealed as the pound hit its highest level against the euro for six months - and until the deal is sealed every increase will cost the Spanish giants even more. The pound hit 1.17 euros and currency experts calculate that each cent the euro falls will cost the Spaniards an extra one million euros. The £80million price the two clubs have agreed would have cost Real Madrid €83 million in January when the pound was much weaker. But at today's exchange rate the same sterling amount will cost Real Madrid €93 million. Mark O'Sullivan, director of dealing at foreign exchange firm Currencies Direct, said: 'While the Ronaldo deal is good news for Real Madrid supporters, the accountants at the Bernabeu stadium will be sweating until the paperwork is all signed and sealed.'
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