Football League clubs to adopt UEFA fair-play system

Football League clubs today voted to adopt UEFA’s financial fair play system where teams can only spend what they earn.

Increasing levels of debt and a drop in television income has seen the 72 clubs agree to the system “in principle” at the league’s annual meeting in Cyprus.

Football League chairman Greg Clarke said: “This is a very important step forward for professional football as it will help our clubs exert greater control over their finances.

“Much more work needs to be done, but I am hugely encouraged and impressed by the energy and focus of our clubs on this issue.

“They have been the catalyst for change and have shown a real desire to self-regulate in this area. I congratulate them on taking this bold step.”