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).
🚨 𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Premier League clubs have agreed in principle to a spending cap.
This will anchor spendings to around five times the TV Revenue of the bottom club.
Man City, Man Utd and Aston Villa were the only teams who voted against the move. Chelsea abstained.… pic.twitter.com/UXHttbHka9
— Transfer News Live (@DeadlineDayLive) April 29, 2024