Daniel Levy believes that new UEFA rules that are coming into effect this summer will have quite a big impact on the financing of football. Having seen Chelsea and Manchester City's very wealthy owners spend huge amounts of money in the past that has led to both clubs winning multiple trophies, Newcastle United are expected to follow in their footsteps and challenge at the top over the coming years following their high-profile takeover by Saudi Arabia's Public Investment Fund in October 2021.
This season, Chelsea have been in the headlines after splurging more than £600million in the transfer market under new owner Todd Boehly, thus raising questions about Financial Fair Play regulations in the process. Speaking to Cambridge Union and asked what implications does super wealth coming from Qatar and Saudi Arabia have on clubs such as Tottenham, Levy stated that clubs will soon be limited in the amount they can spend on wages and transfer fees due to the new rules coming into play.
"Firstly there are new laws coming into effect this season, UEFA rules, where sustainability is going to become much more paramount in people's minds so you'll be limited in the amount you can spend on wages and transfer fees, effectively the amortisation element. That's a percentage of your total turnover," explained Levy.
