Football: Rummenigge Wants UEFA To Impose Salary Cap
Posted December 15, 2008on:
BERLIN: Bayern Munich chairman Karl-Heinz Rummenigge wants European football’s governing body UEFA to insist on salary caps in the Champions League to prevent the financial crisis having a “domino effect” in football.
“UEFA president Michel Platini questioned me and I said to him that we needed to control the costs,” Rummenigge told Sunday’s edition of German newspaper Die Welt.
“Clubs cannot devote more than 50 per cent of their budget to salaries.
“At the moment, the wages are irrationally high.
“If we decide to intervene, the competition would be regulated overnight and clubs would have to work within their means.
“At the moment, each club is driven by the need for success and some make investments which might not be economically viable.”
The former West Germany striker is keen to see a licence scheme introduced for Champions League clubs which would mean each team having a limited amount to spend on salaries.
But the Bayern Munich boss says signs of the knock-on effect of the financial crisis are being seen in European football.
“If one looks at football in Europe, there are serious signs of the crisis already in England, Spain and also Italy,” said Rummenigge.
“In Germany it is so far not yet clear how things will go.
“Nevertheless, I think that we would all do well to take a cautious approach in a situation like.”
Channel News Asia