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Platini welcomes Football League's financial fair play plans

Mon 13th Jun 2011 | Money & Finance

UEFA President Michel Platini has welcomed the decision by The Football League to adopt the UEFA Financial Fair Play framework.

Clubs in the Championship, League 1 and League 2 agreed to develop new measures aimed at delivering a 'break even' model to domestic professional football at their Summer Conference last week.

The head of European Football's governing body said: "We are very happy to see that Football League clubs, under the umbrella of The FA, are again taking the initiative on good governance issues by introducing Financial Fair Play.

"We are delighted that enlightened football bodies across the continent are trying to restore financial sanity to football on a national level, just as we are trying to do on a European level."

In order to meet the objectives of Financial Fair Play, Championship clubs have agreed to work towards the introduction of new regulations to be developed and approved by the beginning of the 2012/13 season, League 1 clubs have agreed to implement the Salary Cost Management Protocol (SCMP) - which limits spending on player wages to a proportion of total turnover - from 2011/12 and League 2 clubs, having successfully operated the SCMP at a 60% threshold since 2003, will reduce it to 55% next season.

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