Premier League clubs agree new spending cap - reports / Photo: Oli SCARFF - AFP/File
-
Kulusevski return can spark Spurs: De Zerbi
-
Mbappe ends Nike partnership to join Swiss brand On
-
Shakira to cap off world tour with Madrid 12-gig run
-
Liverpool boss Iraola puts Bournemouth love affair on hold
-
Isolated Syrian-Druze city blames Damascus for shortages
-
'A disaster' if Man City do not win says Maresca after flawless start
-
Isolated Syrian-Druze city shortages
-
Kerry James Marshall: American 'blackness' painter celebrated in Europe
-
Dutch drop Depay for Germany match in Xavi's first pick
-
Spain coach De la Fuente offers 'full support' to people of Ceuta
-
Ronaldo named in Portugal squad for Nations League
-
Russia seizes assets of Nestle, French firms over West's Ukraine support
-
Stock markets diverge after central bank rate hikes
-
England can build on World Cup 'spirit', says Tuchel
-
Anti-Assad music star makes triumphant return to Syria
-
UNESCO can be 'moderator' in AI debate: chief to AFP
-
In-form Fernandez included in Spain Nations League squad
-
Infantino 'must go', says German FA vice-president
-
Arteta buries hatchet with Hurzeler ahead of Brighton clash
-
Russia seizes assets of Nestle, French firms
-
Alexander-Arnold and Palmer return to England squad for Nations League
-
Japan's busiest rail station tests robot bins
-
Russians vote as Ukraine war drags on for fifth year
-
Anthropic says AI systems moving towards building themselves
-
Backpackers fret over Australian visa crackdown
-
Asian stocks boosted by falling oil, yen weakens after BoJ rate hike
-
Most Asian stocks track Wall St rally, yen drops after BoJ rate hike
-
Pakistan court blocks expulsion of Afghan medical college students
-
Russians begin voting in controlled election as war drags on
-
Athletes 'can't take it any more' as Asian Games issues mount
-
Trump 'clearly' wants dialogue with Pyongyang: South Korean President
-
Allen lights up Bills' new stadium with 41-31 win over Lions
-
Bank of Japan hikes rates to 31-year high to battle inflation
-
Afghan medical students in Pakistan hope court stops college expulsions
-
Thailand's Muslim separatists vow to fight to the end
-
AI doomsday warnings unlikely to slow IPOs but questions linger
-
Mideast turmoil, AI set to dominate UN gathering of world leaders
-
ICC eyes China in bid to expand cricket
-
Australia to detain tourists who overstay visa, minister says
-
Nkunku craving freedom and fun on RB Leipzig return
-
Championship rivals brace for renewal of bitter feuds
-
Bhutan's traditional archers lose ground to development
-
In Brazil's Amazon, the hunt for oil fuels hopes and fears
-
Asian stocks track Wall St rally as oil prices drop
-
Australian athlete who soiled herself apologises for continuing Hyrox race
-
South Korea makes Asian Games complaint over Japan warlord ceremony
-
Baby orangutans in India expose 'frightening' scale of trafficking
-
US aid cuts are killing Kenyan sex workers
-
Doom Loop? Ed Sheeran struggles against Gaza tide
-
October 7 survivors, families take centre stage in Israel vote
Premier League clubs agree new spending cap - reports
Premier League clubs have reportedly agreed in principle to introduce a spending cap to limit the gap in financial muscle between sides at the top and bottom of the English top flight.
Clubs will be limited to spending a multiple of the amount of money accrued in television rights by the lowest-earning club in the Premier League.
The Athletic reported "the anchoring" plan will be capped at five times the lowest earning side receives via the Premier League's broadcast deals.
Official figures for last season show the bottom club, Southampton, were paid £104 million ($130 million) in TV money.
The Times said that clubs are expected to be assured that any cap would not cause any of them to reduce spending from their present level.
The plan received at least the 14 votes necessary from the 20 clubs to be approved.
But defending champions Manchester City, Manchester United and Aston Villa are among those to have reportedly rejected the proposal, with Chelsea said to have abstained.
If approved at an annual general meeting in June, the new model will replace the controversial Profit and Sustainability Regulations (PSR) from the 2025-26 season.
Everton and Nottingham Forest have been docked points this season due to breaches of PSR, which allows clubs to lose only £105 million over a three-year period.
A number of other clubs are close to crossing that limit, which led to a massive downturn in spending during the January transfer window.
Critics of a cap on spending believe it could hinder the Premier League's position as the richest and most watched league in the world.
Players' union the Professional Footballers' Association have also opposed "any measure that would place a 'hard' cap on player wages".
However, those in favour of the plans cite increasing Champions League revenue for the top teams and the spending power of state-backed clubs such as City and Newcastle as justification for limiting spending to maintain competitive balance.
Premier League clubs have already agreed to follow UEFA's new financial fair play regulations from 2025/26 by limiting spending to 85 percent of their total revenue on wages, transfer payments and agents' fees.
W.Morales--AT