Washington, Nov 2: The Professional Union of Football Clubs has said that the 75 percent tax on salaries that France is enforcing to fill its depleted financial coffers, risks to ‘kill’ French football.
According to CNN, teams are threatening to boycott matches in protest, and the controversy was sparked when President Francois Hollande refused to exclude soccer clubs from the hefty tax, after meeting with industry representatives on Thursday.
The Socialist leader’s assault on top earners is part of efforts to shrink France’s massive budget deficit and support the sagging economy, the report said.
Employers must pay the levy on salaries exceeding 1 million euros a year and will apply for two years, the report added.
The league plans to strike in protest later this month, the first boycott of its kind in more than 40 years, the report further said.
French clubs are already under financial strain amid declining ticket sales and reduced incomes from television rights, according to the report.
They argue the tax will make the league less competitive and fear losing players to high-paying European rivals, the report mentioned. (ANI)