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Clubs should have a look at their financial situation before spending big money...

UEFA president Michel Platini recently launched a 'financial fair play' initiative revolving around the idea that clubs should only spend the money they earn through football revenue, and the Frenchman is till in full support of his idea.

"We believe that for clubs to survive they can't spend more than they earn and the Executive Committee has agreed to introduce regulations to reach this aim," said Platini ahead of the UEFA Executive Committee meeting earlier this week.

UEFA's general secretary Gianni Infantino previously revealed that UEFA will publish a report next month about the tricky financial situation of several clubs. New regulations are expected to be announced later in 2010.

"We are doing this after very detailed research which we will publish next month. Our report has analysed 650 clubs all over Europe and it shows around 50 per cent of those clubs are making losses every year - and 20 per cent are making huge losses every year," Infantino was quoted as saying by Reuters.