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By Timothy Akintola

Read stories on Premier League, Ngannou, NBA Playoffs and Mason Greenwood.

Premier League clubs take big step in principle towards spending cap.

On Monday, Premier League clubs voted towards implementing a spending cap to bridge the financial divide between top and bottom teams in the league. This model will limit clubs to spending only a multiple of the funds accrued through television rights. According to reports, 14 of the 20 PL clubs voted in support of the plan with notable clubs like Manchester United, Aston Villa and Manchester City voting against the move and Chelsea abstaining from the vote. If this scheme is ratified at the general meeting in June, this new model will replace the Profit and Sustainability Regulations (PSR).

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