Monday, July 11, 2011
Manchester City chief executive Garry Cook confirms meetings with Uefa concerning Financial Fair Play
aManchester City chief executive Garry Cook has admitted that the club have held talks with Uefa concerning their fulfillment of the Financian Fair Play rules.
Under the new rules, clubs cannot spend over their means, with the Eastlands outfit having already sustained a loss of around £213.5 million in the last two years.
However, the recent announcement of the sponsorship agreement with Etihad is believed to be the contentious issue, with City reported to be making about £400m over a period of time.
Now the Daily Mail reports that top clubs around Europe are going to put forward a petition to ensure that the sponsorship agreement - that runs over a period of years - does not get taken into account when calculating to determine whether the club have conformed to the Financial Fair Play rules.
But City's chief executive has conceded that there have been talks with the European governing body concerning the fulfillment of the rules.
"We have a very open dialogue with Uefa," Cook said, according to The Express.
"We have had several meetings with Uefa about our plans and they are very supportive of Manchester City's ...source: goal.com
