Gill: Spending rules are spot on

BY foxsports • March 2, 2010

The 'financial fair play' rules affecting the Premier League will start in 2012, but with a transitional period for three years after which all clubs will have to show they have broken even. Currently, Chelsea and Manchester City both return a loss but the holding company of Manchester United has also recorded losses in two out of the last three years once interest payments on their debts have been taken into account. Liverpool's holding company has also been in the red after interest payments. Gill said: "I think there is enough money in the Premier League that it should not be an issue. "If they are not complying now, the transition mechanism means they can get their house in order. "The Premier League is one of the wealthiest leagues in the world and there is no reason why they should not be able to comply with the rules." Gill insisted however United would not fall foul of the spending rules, despite the Glazer family's debts. He added: "We have seen what the proposals are and we would meet the financial break-even rules. "We as Manchester United have always been run professionally and will continue to be run professionally." Gill was speaking following a meeting of the European Club Association (ECA) in Manchester where member clubs announced they had persuaded UEFA to delay full implementation of the new rules from 2012 to 2015. Clubs' finances will be assessed over a rolling three-year period to ensure they comply with the UEFA rules before they are allowed to take part in the Champions League of Europa League. A UEFA proposal that only clubs with a turnover of 50million euros is being opposed by the Premier League and the ECA who say all clubs should be subjected to the same test.

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