UEFA president Michel Platini wants to stop clubs like Real Madrid embarking on spending sprees using borrowed money by changing entry rules for the Champions League to ensure that players' salaries and transfer fees are proportionate to a club's income.

Big spending has come into sharp focus with Madrid using bank loans to buy three of the game's most sought-after players in the last month for more than $A350 million, including world player of the year Cristiano Ronaldo.

European football's ruling body said overnight it wanted the financial constraints, which would also cover the new Europa League, to be finalised in September ready for a phased introduction.

UEFA's executive committee, meeting in Vilnius, Lithuania, also agreed to give referees the power to halt or abandon matches in European competitions if there is racist chanting. It also confirmed an experiment with additional assistant referees behind each goal would be used in this season's Europa League group stage.

Platini has made curbing excessive spending by clubs his top priority in order to maintain their long-term sustainability.

"The only club which did not have debts this season was Barcelona, while all others lived beyond their means," Platini said. "In the future we will see to it that clubs have enough funds to finance the players. UEFA will be more active in this process."

Another pressing issue for UEFA is the 2012 European Championship, whose co-hosts Ukraine and Poland have seen their preparations beset by logistical problems which Platini says have been made worse by the global economic crisis.

By November 30, UEFA must be satisfied that the two countries can stage the event before Platini looks at alternative plans.

"At this moment I do not want to discuss any other scenarios," Platini said. "I believe Ukraine will be able to fix the situation.

UEFA has so far guaranteed only one venue in Ukraine, the capital Kiev. Three other cities in Ukraine - Lviv, Donetsk and Kharkiv - have until November to prove they can make the necessary upgrades to roads, airports, stadiums and hotels to stage the competition.

LONDON AFP