The Union of European Football Associations has revealed it is considering introducing luxury tax to curb the spending power of its biggest clubs.

UEFA President Aleksander Ceferin is aiming to reduce the ability of the continent’s biggest clubs to hoard talent with the introduction of a luxury tax.

A similar luxury tax is seen in American sports organizations like the National Basketball Association and the Major League Baseball. It involves the paying of a “luxury” tax by teams whose salaries surpass an agreed wage limit.

“We do have to examine new mechanisms like luxury taxes and in particular sporting criteria like squad limitations and fair transfer rules,” Ceferin said Wednesday in a speech delivered at a soccer conference in Lisbon.

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“We do need to assess whether the transfer market as it operates today is the best we can do. We cannot be afraid to touch it.”

UEFA President Aleksander Ceferin

Ceferin had promised to look at these issues when he was elected last year to replace Michel Platini.

“Within the transfer system, we have real possibilities to drive change,” Ceferin said.

The body had planned to introduce these changes back in 2009, but it had been heavily rejected by the top clubs. It had however introduced the Financial Fair Play rule, which however hasn’t done much.

The biggest clubs have been known to use their spending power to buy the best talent without any form of control, with Real Madrid’s Galaticos one of the biggest examples.