- Jun 29, 2003
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During a question and answer session with the Cambridge Union, Levy was asked about the 'super wealth' coming into the game at Newcastle and what 'implications' it would have for Spurs in the future.
"Well, firstly, there are new UEFA rules coming into effect this season where sustainability is going to become much more paramount in people's minds," the Spurs chairman said. "You will be limited to the amount you can spend on wages and transfer fees to a percentage of your total turnover.
"It's starting off at 90% and, over three years, it's going down to 70%. The impact of that is effectively some form of wage control. Even though clubs have been spending very heavily - if you talk about someone like Chelsea - now the new rules come into effect this summer, you will find, regardless of who is the owner, it's going to have quite an impact on the financing of football."
Source: Chronicle
"Well, firstly, there are new UEFA rules coming into effect this season where sustainability is going to become much more paramount in people's minds," the Spurs chairman said. "You will be limited to the amount you can spend on wages and transfer fees to a percentage of your total turnover.
"It's starting off at 90% and, over three years, it's going down to 70%. The impact of that is effectively some form of wage control. Even though clubs have been spending very heavily - if you talk about someone like Chelsea - now the new rules come into effect this summer, you will find, regardless of who is the owner, it's going to have quite an impact on the financing of football."
Source: Chronicle