Platini Delighted Over New Championship Finance Rules

President of European soccer’s governing body UEFA, Michel Platini has hailed the decision of the English Football League (EFL) to implement Financial Fair Play regulations in the Championship, the second tier of English soccer.

The league’s clubs will only be allowed to spend what they earn from the 2012-13 season, while sides in League One and Two will not be permitted to spend more than 55% of their turnover on player wages.

The news comes after the Championship has seen a number of clubs struggle with the financial fall-out of relegation from the Premier League in recent years and clubs that breach the rules are likely to be handed a transfer ban as a first sanction, although the possibility of points deductions have not been ruled out.

Platini told Sky Sports: “We are very happy to see that Football League clubs, under the umbrella of the Football Association, 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.”