By GRAHAM DUNBAR
updated 6:11 a.m. ET Aug. 26, 2011
MONACO - UEFA President Michel Platini warns there are "red lights flashing" across Europe because of soccer's financial problems.
Platini says he's "afraid for the future of football" because of clubs going bankrupt and running up debts.
Platini acknowledges to "sending out an alarmist message" in his annual eve-of-season briefing linked to the Champions League draw.
Players possibility going on strike in Spain and Italy this month over unpaid wages and higher taxes have also worried him.
Platini says he's "not comfortable" with what's happening in two of Europe's wealthiest and most popular soccer nations.
He also promises there will be no turning back on UEFA's financial fair play rules designed to curb reckless spending by top clubs.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Source: http://nbcsports.msnbc.com/id/44284340/ns/sports-soccer/
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