Manchester City manager Roberto Mancini has expressed his displeasure with the UEFA and the Premier League’s new spending rules about the impending introduction of salary inflation cap by claiming that wealthy benefactors should not be subjected to financial constraints.
With the new £5.5bn TV deal kicks in next season, Premier League officials are eager to put a control over the exorbitant wage bills wagered by the clubs that are resulting into constant financial loses at the end of the financial year.
With Financial Fair Play rules coming into force from the 2014-15 season, the Premier League clubs will have to limit their loses of £105m over three seasons based on their audited accounts. The finances if invested in developing youth structure at the club can be discounted from the calculation.
The Italian said as quoted in the press:
“I do not agree. If I am a rich man I want to spend all my money for my team; it’s my job.
“It’s only my personal opinion but I don’t agree with the idea in general or these rules.”
According to the new Premier League spending rules clubs with annual player costs more than £52m a year will now be limited to a £4m salary increase in 2013-14, then £8m and finally £12m in successive seasons. The clubs are expected to limit overall deficits to £105m over the next three seasons or they could face point deductions.
The introductions of such rules will prohibit any foreign owners to come into the English football and straightaway invest millions of pounds overnight to make them competitive in the league, classic examples being Roman Abramovich and Sheikh Mansour of Chelsea and Manchester City respectively.
Despite making a record income of £2.3bn last year, Premier League clubs have incurred a huge loss of £361m as well. The rule will allow smaller and newly promoted clubs to invest sufficiently to challenge for Europe.
Meanwhile, Mancini is confident that his side can close the nine point deficit with leaders Manchester United having seen his team recover from an eight-point deficit to win the title with six matches left last term.