Martin O'Neill says he will not be reckless with Aston Villa's money

May 13 2009 by Bill Howell, Birmingham Mail

MARTIN O’Neill has backed Premier League plans to curb irresponsible spending in the Premier League.

Clubs could face financial controls and rigorous annual checks by auditors, Richard Scudamore, the League’s chief executive, revealed this week.

Any club identified as behaving beyond their means would then have to take action or face sanctions.

“I would welcome that,” said the Villa boss. “I’m all for spending what you can afford. If you can afford £500million because that’s within your remit then good luck to you.

“If you can’t, then I’m sorry you don’t. That’s how I work.”

UEFA and president Michel Platini in particular are concerned about the level of debt run up by the top clubs in England.

Lord Triesman, the chairman of the Football Association, revealed an estimated £3billion debt among clubs last year with Manchester United, Liverpool, Arsenal, Fulham and Newcastle believed to be the chief culprits.

O’Neill is adamant that Villa will continue to follow a more conservative approach.