Premier League Clubs Agree On Cost Controls, Salary Cap; City, Fulham Oppose Plans
Premier League clubs "have paved the way for the introduction of spending controls and a salary cap after their chairmen agreed in principle to their introduction," according to Mark Cue of the LONDON TIMES. Despite some opposition, the EPL "is keen to ensure that financial safeguards are in place before the start of the lucrative new broadcast deals" in August. Under the plans, the 20 clubs "would have to break even although the exact details of the controls have yet to be agreed." The main issue to be resolved "is believed to centre around how much funding wealthy owners can put into clubs to cover losses" (LONDON TIMES, 12/18). The BBC's Simon Austin reported "there are two main proposals on the table -- a break-even rule and a cap on the amount clubs can increase their wage bills by each season." Club CEOs "have now been asked to produce detailed plans for exactly how these proposals will work." City and Fulham "are the only clubs opposed to any spending controls." However, any new Premier League rule "requires the approval of only 14 of the 20 clubs in order to be introduced" (BBC, 12/18).