|
The Uefa executive committee have reiterated that clubs heavily in debt to banks will not be allowed to play in European competition in 2007/2008.
Although it is perhaps unlikely the ruling will have any impact on Manchester United in the wake of Malcolm Glazer's attemped takeover, their licence could be reviewed under the new guidelines.
It could mean United being told they could not compete in the UEFA Champions League, the continent's most lucrative competition.
"The idea is to make the regulations more progressive, but it will not be possible to impose a limit of say, €60 million debt across the board, because there are so many differences in the finances of all clubs in Europe," said a Uefa spokesman.
"However, if one club was permanently in debt to the banks, and the debt showed no sign of clearing or, in fact, got bigger year by year, then we would look very closely at that situation and then the licence of that club would have to be reviewed."
Glazer, who launched a £790 million bid for United on Thursday, is close to the 75 percent stake that gives him full control at Old Trafford and the ability to take the club into private ownership.
The American businessman confirmed to the Stock Exchange that he now owns almost 70 percent of the club, with more shares being bought on Friday.
Red Devils manager Sir Alex Ferguson refused to give any lengthy response to the situation when questioned by The Scotsman.
"I always look forward, and I do so again, but we'll just have to wait and see what is going to happen," said Ferguson.
|