Top clubs given extra time on financial fair play rules
93 clubs from 53 countries attended the ECA's General Assembly in Manchester
Europe's top clubs have succeeded in delaying the full introduction of Uefa's new financial fair play rules.
The rules will apply in 2015 instead of 2012 and will govern the amount of debt clubs can accrue, with European bans a possible punishment if they are broken.
The European Club Association agreed clubs must break even over a three-year period, without relying on large cash injections from rich owners.
ECA chairman Karl-Heinz Rummenigge said: "This is a huge achievement."
Rummenigge told reporters at the Soccerex business convention that 93 clubs from 53 countries had attended the ECA's General Assembly in Manchester and were unanimously agreed on the proposals.
"After only two years of existence, the European Club Association has managed, together with Uefa, to set measures that will shape the future of European club football into a more responsible business and ultimately a more sustainable one," continued Rummenigge.
Uefa will assess clubs' finances over a rolling three-year period to ensure they comply with their new financial fair play rules before they are allowed to take part in the Champions League or Europa League.
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