EPL Clubs Want To Ensure Cash Infusion From Broadcasters Leads To Financial Stability
EPL clubs discussed plans on Thursday to ensure that a "huge injection of cash from broadcasters around the world ushers in an era of greater financial stability," according to Keith Weir of REUTERS. Having secured a domestic TV deal worth £1B ($1.6B) per season from '13 -- a 70% increase -- the league has since "negotiated a series of improved overseas agreements" including one with NBC in the U.S. The trick now for Premier League teams is to "ensure that all that money does not translate straight into higher wages for players and their agents." ManU Exec Vice Chair Ed Woodward said that there was a "historic link" between rising revenues and player wages but believed it could be contained (REUTERS, 11/15). In London, James Riach reported that one option would be that the "maximum salary bill increase will not be able to top 5% each year, while another is only allowing a club's wage bill to be a certain percentage of its overall revenue." Sunderland Chair Ellis Shorts has "pushed hard for the wage-cap rules to be introduced and both Manchester clubs, Liverpool and Chelsea are understood to be in favour of some cost-control rule, although the Wigan Athletic Owner Dave Whelan is opposed to such a measure." The penalties imposed to clubs that fail to comply with any new rules are unknown at this point (GUARDIAN, 11/15).