Liverpool icon Kenny Dalglish says UEFA president Michel Platini's plans for financial restrictions are destined to fail.
In his column for the Mail on Sunday, Dalglish wrote: "Manchester City's £121million loss this week raised eyebrows but I can't see Michel Platini's plan to cap club spending as a percentage of turnover working.
"It might be well intentioned but it won't prevent wealthy owners from paying players what they want - they will always find a way.
"Even if the club's turnover determines they can't pay a star striker more than £30k a week and a rival is prepared to pay £100k a week, they will find a way of giving them a commercial contract to make up the shortfall.
"The player will end up earning the same, it would just go down in the books as an advertising deal rather than wages. He'd effectively have two contracts.
"Football is a free market, you can't get clubs to agree to sit down and agree a salary cap or a limit on transfer spending.
"It's not necessarily beneficial, either. Of course it's very sad if a mismanaged club goes to the wall or suffers like Portsmouth. But those situations are a minority compared to the number of clubs who have benefited from investment by a benefactor."
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