Wednesday, October 08, 2008

Wenger's Transfer Policy Making Sense as United and Chelsea Face Credit Crunch


Manchester United winger Cristiano Ronaldo has unveiled new clothes boutiques in Lisbon and Madeira. The CR7 stores are part of his plans for a future after football, and the Portugal international also revealed he fancies acting in movies, saying: "As for Hollywood - maybe in 10 years' time."

Meanwhile, LEADING Premier League clubs could be thrown out of Europe, unless they sort out their finances, warned UEFA today.

It is reported that West Ham became the first major victims of the credit crunch when their chairman Bjorgolfur Gudmundsson saw his major stockholding in Landsbanki wiped out when the troubled Icelandic bank was nationalised.

Seems lie the problem in wall street is catching up with Europe.
And now UEFA general secretary David Taylor has warned Europe's biggest clubs - like debt-ridden Chelsea and Manchester United - that they risk being kicked out of the Champions League if they fail to put their finances right. A few weeks ago they had been indications the UEFA planned to probe club finances which was welcome by Arsene Wenger despite the face-off between the Arsenal Gaffer and Mitchel Platini the UEFA president.
He said: "There would be forms of communication, even warnings, even reprimands before one would ever get to a situation of exclusion but it's absolutely possible. That is the ultimate sanction.”
Leading UEFA officials will meet on Monday to come up with fresh ways to put the squeeze on clubs who are succeeding on borrowed money.
Taylor's remarks came 24 hours after Football Association chairman Lord Triesman revealed English football clubs had amassed a debt of £3billion, and that last season's top four Premier League teams accounted for a third of that.

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