Platini eyes up spending cap as clubs risk 'imploding'

Michel Platini today told the European parliament that UEFA are considering capping spending by clubs and suggested that Manchester City's pursuit of Kaka had increased the need for action.

The UEFA president has been a critic of outlandish buying by Europe's elite clubs - much of which is based on borrowed credit or the personal spending of wealthy benefactors - and insists it is the clubs themselves who have requested the move.

"European clubs are telling us that our system is in danger of financially imploding in the medium term," Platini told MEPs in Brussels.

"In consultation with them we are looking at limiting to a certain degree a club's expenditure on staff - salary and transfer fees combined - to an as yet undecided percentage of their direct and indirect sporting revenue."

Platini hinted discussions over a salary cap were accelerated by one club's "astronomical bids" last month. Although he did not name Manchester City, who are owned by Sheikh Mansour's Abu Dhabi United Investment Group, he appears to have been referring to their move for Kaka.

City were willing to pay AC Milan £108million and Kaka wages of £250,000 per week but the forward decided to stay at the San Siro. "During this year's festive season, one club which had suddenly become very rich made various astronomical bids in the transfer market," said Platini.