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Juventus Back Michel Platini's Spending Policies - John Elkann

The president of Exxor, the Juventus holding company, has given his views on major scale spending...

Jul 17, 2009 3:05:57 PM

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Johk Elkann (Foto Grazia neri)

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Juventus heir John Elkann has quietly taken a swipe at Real Madrid's grandiose summer spending spree by claiming that throwing money around is not sustainable in football as he backs Michel Platini's plans to curb spendthrift attitudes.

Elkann feels multi-million deals are having an antithetic impact on clubs around the world and he feels wise spending is the only way forward. Real Madrid have spent record amounts of cash this summer after loaning money from Spanish banks to fund their signings. The Juve chief feels encouraging debt can only hit clubs where it hurts the most.

"We have always wanted to be in line with Michel Platini. Football needs to be sustainable from an economic point of view," Elkann told Il Corriere Dello Sport.

"We were able to afford our own investments and this guarantees our sustainability in terms of continuity and stability for the club and fans over time."

Juventus have reportedly spent around €50 million on transfers following the signings of Diego and Felipe Melo. Fabio Cannavaro joined on a free deal while Madrid have spent a reported €180m on new faces this summer.

Salvatore Landolina, Goal.com