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“A scam”, Textor attacks Premier League financial rules

The Premier League's financial viability model is skewed and prevents ambitious clubs from challenging the dominance of the big six teams, said Crystal Palace co-owner John Textor, also head of Olympique Lyonnais.

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“A scam”, Textor attacks Premier League financial rules

The Premier League's financial viability model is skewed and prevents ambitious clubs from challenging the dominance of the big six teams, said Crystal Palace co-owner John Textor, also head of Olympique Lyonnais.

The Profit and Sustainability Rules (PSR) were introduced in 2013 to level the playing field and prevent clubs with wealthy owners from spending huge sums of money.

Clubs risk deductions of points if they record losses of more than 105 million pounds (123 million euros) over a three-year period or 35 million pounds (41 million euros) per season. However, they can offset expenses against the revenue they generate during this period.

Investments in youth development, women's football and infrastructure are also ways to balance losses in the books and avoid sanctions.

Critics, however, say the rules have limited the opportunities for smaller clubs to compete with more established teams with larger fan bases.

“It is clear that these rules are designed to ensure that clubs that are not generating significant revenue cannot make up for it...,” Textor said on Thursday at the Financial Times Business of Football Summit. . Financial Fair Play is a fraud that says it's about sustainability. Sustainability should be linked to the quality of your balance sheet, not ratios to your profit and loss. We have three billionaires in our ownership group (at Palace). We are not allowed to spend at the same level as the top 6 teams.

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