New spending caps for European soccer clubs being finalized

By ROB HARRIS
AP Global Soccer Writer

LONDON (AP) — An overhaul of financial restrictions in European soccer will be discussed by leading clubs at a meeting Thursday with limits on spending rather than salary caps. UEFA is set to replace its Financial Fair Play rules, which placed limits on losses, after more than a decade. Instead, teams in competitions including the Champions League will eventually only be allowed to spend up to 70% of their income on soccer-related activities, people with knowledge of the plans told The Associated Press. The people spoke on condition of anonymity because they were not authorized to discuss the plans that are still being formulated.