UEFA president Michel Platini has backed the Football League’s move to adopt UEFA’s Financial Fair Play framework at last week’s summer conference. Chief executive Simon Clegg represented the Blues at the conference, which was held in Cyprus.
Football League clubs agreed to develop measures which will lead to a ‘break-even model’, meeting the objectives of UEFA’s framework.
League Two clubs already operate what’s called the Salary Cost Management Protocol (SCMP) which limits player wages to 60% of turnover, which they will reduce to 55%, while League One clubs will also adopt the SCMP.
Championship sides have opted to move towards the introduction of "new regulations to be developed and approved” by the beginning of the 2012/13 season.
Platini welcomed the developments: "We are very happy to see that Football League clubs, under the umbrella of The FA, are again taking the initiative on good governance issues by introducing Financial Fair Play.
"We are delighted that enlightened football bodies across the continent are trying to restore financial sanity to football on a national level, just as we are trying to do on a European level."
Town’s accounts to June 2010 showed player and coaching costs of £13.45 million, which was 85.3% of turnover. Overall staffing costs were 108.1% of turnover.