UEFA, European football's governing body, has expressed concerns over some English Premier League clubs, which could be facing a financial crisis if current spending levels are sustained.

Speaking to BBC Radio 5 Live as part of a special report on debt in English football, UEFA general secretary David Taylor said the combination of clubs living beyond their means while decreasing in value could have worrying implications. Taylor said: "We've seen what has happened in recent years with a number of very high-profile clubs, Leeds United for example. It fell into serious financial difficulties by over-extending itself."

The comments follow the news that the owners of Liverpool Football Club had re-negotiated the club's multi-million pound debt with the Royal Bank of Scotland and Wachovia banks, while Taylor told the BBC that UEFA was also concerned with the high levels of spending by Real Madrid and Manchester City football clubs during the summer. "It is certainly raising the ante in terms of player costs [and] in terms of the general market place, which is not a thing that gives us a great deal of comfort in these difficult times," he added.