Fraud’ Kieran Maguire slams Premier League after Crystal Palace claim
Finance expert Kieran Maguire agrees with the comments of Crystal Palace co-owner John Textor that financial regulations in the Premier League are “broken”.
Maguire exclusively told Football Insider that the rules are designed to “keep the door well and firmly shut” for smaller clubs who intend to disrupt the established elite.
As reported by SportsProMedia, Palace chief Textor said “Financial fair play is a fraud of a term, to say it’s about sustainability.
“It’s clear that they are built to make sure that clubs which do not drive significant revenues cannot catch up.”
Both Everton and Nottingham Forest were charged with breaching Premier League Profit and Sustainability Rules this season after exceeding the allowable losses of a top-flight club.
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Maguire agreed with Textor’s comments and suggested that other systems could easily be put in place.
“I have said from day one that Financial Fair Play is there to prevent another Chelsea or Manchester City being disruptors,” Maguire told Football Insider’s Sean Fisher.
“Six into four doesn’t go when it comes to Champions League places.
“The rules prevent wealthy owners from putting in as much money as they.
“You could set up systems whereby every pound they invest they’ve got to put another three pounds into a fund to cover losses and there could be a series of checks and balances which would work.
Everton
“But the current rules are there to keep the door well and firmly shut.
“So in this case I firmly agree with John Textor – he’s just saying it as it is.“
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