May 25 2013 Latest news:
By James Cunliffe
Friday, February 8, 2013
Arsenal manager Arsene Wenger says he favours more individual freedom for clubs after Premier League clubs voted for new spending controls.
The Gunners were one of the driving forced behind the measure agreed yesterday, whereby clubs will not be permitted to rack up losses of more than £105million over three years.
It means clubs whose total wage bill is more than £52million will only be allowed to increase their wages by £4million per season for the next three years, though that cap does not cover extra money coming in from increases in commercial or matchday income.
Clubs will also face limits on the amount by which they can increase their total player wage bills - and breaching either measure could lead to points deductions.
Wenger has always pushed for an even playing field when it comes to club finances.
He said: “I personally am for financial fair play in the way that companies and the clubs respect to manage the club with their own resources.
“For the rest I am for freedom, how you use your resources inside the club. I am not in favour of a Brussels-type of society with centralised control with complicated rules.
“I believe every company should live within its own resources. For the rest, leave it to the company to manage their company how they want to do it.
“It is nonsense because we live in a world where, if you look at Europe, most of the countries are in a very difficult financial position and I believe the minimum we can do in our world is respect the financial balance.”