NYON, Switzerland -- European soccer's governing body says new financial rules will be enforced "with rigor," after English teams spent $362 million buying players in January.
UEFA, however, says it has "full confidence" clubs understand the reforms that require them to balance their books.
The record English spree included $112 million spent by Chelsea. It came during the final transfer window before rules are introduced in July requiring clubs to break even on soccer business.
UEFA will scrutinize club financial reports and can bar those teams in the red from the Champions League starting in 2014-15. The soccer body also says clubs will be punished for failing to pay transfer fees or wages on time.
UEFA, however, says it has "full confidence" clubs understand the reforms that require them to balance their books.
The record English spree included $112 million spent by Chelsea. It came during the final transfer window before rules are introduced in July requiring clubs to break even on soccer business.
UEFA will scrutinize club financial reports and can bar those teams in the red from the Champions League starting in 2014-15. The soccer body also says clubs will be punished for failing to pay transfer fees or wages on time.
