UEFA PRESIDENT MICHEL PLATINI has given 27 clubs a deadline to make sure they adhere to Financial Fair Play rules.
The former France international said that the move comes after a number of clubs started reneging on scheduled payments for player transfers and face a ban from European competition if they fail to meet their commitments.
“They were told to sort their finances out before June 30. Then they had until July 15 to discuss any problems,” Platini told reporters.
“The next check on September 30 will be vital. For clubs who can’t follow the rules of the Financial Fair Play system, it is over and out of Europe.
“We are protecting clubs who have sold players and struggle to receive payment. A number of clubs have had to chase their money for years.”
Despite the regulations, European champions Chelsea continued to spend, with an outlay of £80m on the likes of Eden Hazard, Oscar and Marko Marin.