Bayern Munich supremo Uli Hoeness is convinced the domination of Europe by English clubs is over.
No Premiership club will be in the final four of this season's Champions League after Arsenal and Manchester United were dumped out.
"I think English teams will now find it more difficult more often to succeed in the Champions League because the financial crisis will lead to a situation where English football will not play the same role as before," Hoeness said after Bayern had ended English interest in Europe's elite competition on Wednesday by beating United on away goals after a 4-4 draw on aggregate.
"The pound is down 25 per cent and the taxes in England are going up, so that means the English clubs and their owners do not have the same money as before.
"If you ask me do the English clubs deserve this, then I say yes. With the new rules that are to come in over the next three years, the big loser will be English football. If you build all of your success on debt, I think it is not OK. In Germany, you simply do not get a licence to operate if you lose too much money in your own league. I am not talking specifically about Manchester United, but many of the English clubs have built themselves up on debt and that, for me, is not correct."
