Football League sign up to UEFAs financial fair play system

Last updated : 10 June 2011 By Daily Mail

Increasing levels of debt and a drop in television income has seen the 72 clubs agree to the system 'in principle' at the league's annual meeting in Cyprus.

Football League chairman Greg Clarke said: 'This is a very important step forward for professional football as it will help our clubs exert greater control over their finances.

Cash cow: The Premier League is the Holy Grail for clubs in the lower divisions

'Much more work needs to be done, but I am hugely encouraged and impressed by the energy and focus of our clubs on this issue.

'They have been the catalyst for change and have shown a real desire to self-regulate in this area. I congratulate them on taking this bold step.'

?Portsmouth striker Kanu ready to switch his attention to charity workKing turns his back on Coventry and joins Birmingham despite talk of new dealCameron brands Blatter's FIFA re-election 'a farce' and calls for FA to lead reformWhy top clubs like Liverpool and Manchester United are chasing the best of British?

?Explore more:Places: Cyprus Organisations: Football League

Source: Daily Mail

Source: Daily Mail