UEFA probes finances of top clubs

Europe's football governing body UEFA on Wednesday stepped up aninquiry into the finances of top clubs as Manchester City players were named thetop earners in world sport.UEFA has refused to say which clubs have been called to explain their accounts, butmedia reports say that Premier League title contenders the Abu Dhabi-ownedManchester City and Qatari-owned French champions Paris St Germain could facesanctions.Both have spent hundreds of millions of dollars to achieve national and Europeansuccess while UEFA has brought in new rules aiming to stop clubs spending morethan they earn.UEFA's Club Financial Control Body met for a second day in Switzerland as aspecialist study said that Manchester City first team players earn an average £5.3million ($8.9 million, 6.4 million euros) a year.The Sporting Intelligence website said the English Premier League club top theglobal sporting salary list ahead of Major League Baseball teams the New YorkYankees and LA Dodgers, with football teams Real Madrid, Barcelona, BayernMunich, Manchester United and Chelsea also featuring in the top 10. City have spent lavishly on top players since being taken over by Sheikh Mansourbin Zayed al-Nahyan in 2008. Argentine Sergio Aguero cost about 46 million euros in2011.Paris St Germain have also spent hugely on players like Zlatan Ibrahimovic, whocost more than 37 million.City's outlay helped them to win the Premier League title in 2012, while Paris StGermain claimed the Ligue 1 crown the following season.British media reports say both clubs could face a fine under Financial Fair Play rulesintroduced by UEFA president Michel Platini.A UEFA spokesman told AFP that "several clubs" had been spotlighted by a hearingof the organisation's Club Financial Control Body.The governing body would not comment on possible punishments saying only thatit "does not provide any details about clubs' ongoing investigations as part of themonitoring process nor will it comment on correspondence between the ClubFinancial Control Body and clubs".The decisions by the Club Financial Control Body's Investigatory Chamber are to bemade public in early of May, said a UEFA statement.Under the UEFA rules, clubs are not meant to make losses of more than 45 millioneuros ($62 million) during the 2011-12 and 2012-13 seasons. Some spending, such asnew infrastructure, is exempt however.City reported losses of £149 million (180 million euros) for 2011-13. But the club hascut losses in recent years and expressed confidence that it can break even in comingyears. Paris has spent well over 360 million euros on transfers since 2011 when it wastaken over by an offshoot of the Qatar Investment Authority.Clubs found guilty of contravening the UEFA regulations could facepunishmentsincluding exclusion from the Champions League or being stripped of titles.But British newspaper The Daily Telegraph, which did not cite sources, said that Cityand Paris St Germain were more likely to be hit with a financial penalty.The paper said that "fewer than 20" clubs were at risk of sanctions. Source: AFP