BRUSSELS: Sepp Blatter wants stricter rules on foreign ownership of European clubs which has left soccer exposed amid the economic downturn, the FIFA president said on Monday.

"There must be better control of soccer's finances especially in the difficult financial climate we are facing," Blatter told reporters at the European Parliament.

"Something has to be done about these billionaire owners so I urge UEFA to work with the European Union (EU) to tighten up the rules ... otherwise there will be big financial difficulties in the future."