UEFA warns clubs against overspending in ‘reckless pursuit of success’

UEFA president Aleksander Ceferin (John Walton/PA).

European clubs have been warned against “reckless” spending on player wages and transfer fees by UEFA president Aleksander Ceferin.

A new UEFA report found just 12 clubs were responsible for two-thirds of the overall 1.9 billion euros (£1.7 billion) losses made by 144 clubs who reported financial results early for 2022.