Blatter: Pay curbs would hurt Swiss football
GENEVA (AP) — FIFA President Sepp Blatter is warning that Swiss football would be at risk if the country’s voters decide in November to back pay curbs aimed at managers.
Voters will decide in a referendum Nov. 24 on the “1:12 initiative,” under which the pay of a company’s highest-paid employee would be limited by law to at most 12 times that of its lowest-paid worker.
Blatter, who is Swiss, told the Schweiz am Sonntag newspaper that “Swiss football would have a real problem with its transfer market” if the proposal passes.
He was quoted as saying: “Who would still want to play here? We could hang up football.”
In a March referendum, Swiss voters voted to boost shareholders’ say on executive pay and ban one-off bonuses known as “golden hellos” and “goodbyes.”