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Referendum result pleases Swiss clubs

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Swiss voters have rejected in a referendum by a majority of nearly two to one the so-called 1:12 proposal that would limit the salaries of top earners in a company to no more than 12 times the wages of the lowest-paid employee. The decision has come as a relief to leading Swiss football clubs.

Grasshoppers of Zurich and FC Basel criticised the proposal, worried that even more players would transfer abroad. Up to 50 sports stars and clubs officials in Switzerland in football and ice hockey earn more than 12 times their club's lowest-paid employees.

Stars such as Basel striker Marco Streller and Grasshoppers' Vero Salatic reportedly earn up to a million Swiss francs a year. Even the salary of Fifa president Sepp Blatter would have had to be cut if the measure had been passed.